i am 22 and in college freshman have two children friends tell me that this is the best way to save and gain interest at high level i can afford to put away an average of 400 to 500 every month i ...
I have been looking to do this sort of thing for a while now, thru those individual investing firms like Ameritrade, E-trade, Fidelity. But, I did not want to get over my head. I have some ...
I'm 28 y/o. I'm told to stay and wait it out. But I get so nervous seeing my 401k tank by more than 25%. I have investments in Fidelity Magellan which invest in AIG. And my investments in ...
I am going to becoming across hundreds apon hundreds of thousands of dollars if not pass the million mark, here in the next year or so (offshore lawsuit), and i am tring to figure out what i should ...
My previous employer matched 1/2 of what I contributed. I only put 5% of my pay. I have maybe $3,300? in it. My new employer only matches a whopping 1% of my contributions. I am not sure if opening ...
Ok, no scam how can you double your money every year and what sort of investing you can have? If you're a millionaire give us an honest advise! Thanks!...
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.
zyberianwarrior
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.
vegas_iwish
Immediately if made a profit. 30 days if a loss unless you want to lose the loss for tax purposes.
Chef dad
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.
Frank Castle
A second later.
Lone Papa
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.
Wonder
You can buy shares immediately.
-MM
franksprung
right away if you want unless your doing a wash and if you are you have to wait 32 days
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