Question about doubling up positions

[thrilldealer]

Suppose I have X stock at .30 then I double at .20 , and I sell at .25. I break even, but when it comes to tax time does this count as one gain (taxable) and one loss(obviously not taxable)?

[Patrick]

the stock market that I know even if you lose money then you can take it off your taxes.

[Dr PennyStock]

This is just an example, suppose you begin the year with $10,000 on your account, and, you finish the year with $50,000, you need to pay taxes over your profit = $40,000.

[thrilldealer]

Thanks for the input guys, problem when I asked the question was I didn't know losses were tax deductible. What a newbie!