Wash Sale - rebuy & Sell again but now on profit?

Question

Say I sell a share for loss(eg. $100) What if I rebuy it next moment and sell it in a minute, but now on profit(say $200). Will I have to pay tax on my full gain?
Talking about this example will I pay taxes on
a) $200,
b) $100 i.e. $200 - $100 = $100
Please advice.
Thanks in Advance

Answer 1

This is not how to report it but provided you have stayed out of the stock for the requisite period, in a nutshell take all your sales proceeds from both sales, subtract the acquisition costs of both purchases and that will be your net profit or loss.

Answer 2

You pay taxes on net gains. $200 - $100 = $100