2007-03-23 14:28:10 · 8 answers · asked by Gordon L 1 in Business & Finance ➔ Investing
You can buy it back as soon as you want.
If the actual question is how soon can you buy it back to realize a deductible loss on a US tax return, then the answer is you must wait at least 32 days.
2007-03-23 14:34:03 · answer #1 · answered by sothere! 3 · 1⤊ 1⤋
If you sold the stock for a loss, you must wait 32 days to buy it back, assuming you report the loss on your taxes. This is called the wash rule...selling only to claim a loss but not wanting to ditch the stock. If you sell the stock for a gain, there is no time frame limits for buying it back. If it is an IRA account, no limits exist. You can buy and sell daily.
2007-03-23 21:57:30 · answer #2 · answered by Lone Papa 2 · 1⤊ 1⤋
the only thing about the wash rule is that if you repurchase it BEFORE 31 days (not 32 people) you cannot claim the losses (assuming its a loss, if profit doesn't matter) in full but you can deduct the difference and tack it on to your next purchase (whenever you decide to sell it again)
the real answer is you can buy/sell anytime you want but the wash rule is enforced to discourage constant profit losses.
2007-03-23 23:40:33 · answer #3 · answered by Anonymous · 1⤊ 0⤋
As soon as you want to, as long as you got cash. The IRS has rules about taking losses off you 1040 though. Generally, you must wait 30 days before buying it back if you want to take a loss on your 1040.
2007-03-23 21:37:08 · answer #4 · answered by Chef dad 3 · 1⤊ 0⤋
Immediately if made a profit. 30 days if a loss unless you want to lose the loss for tax purposes.
2007-03-24 00:10:12 · answer #5 · answered by vegas_iwish 5 · 1⤊ 0⤋
A second later.
2007-03-24 03:33:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋
right away if you want unless your doing a wash and if you are you have to wait 32 days
2007-03-23 21:33:23 · answer #7 · answered by franksprung 3 · 0⤊ 1⤋
You can buy shares immediately.
-MM
2007-03-23 21:39:23 · answer #8 · answered by Anonymous · 0⤊ 1⤋