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Selling a stock at a loss, then re-buying it.
Posted on 7/21/17 at 3:38 pm
Posted on 7/21/17 at 3:38 pm
I'm considering selling a stock at a loss. I believe I can re-buy it down the road.
Is there a minimum period I have to wait before I can re-buy?
TIA
Is there a minimum period I have to wait before I can re-buy?
TIA
6
Posted on 7/21/17 at 3:45 pm to Fat Man
*Edited out because I was dead wrong. The more you know 
*
*This post was edited on 7/21/17 at 4:27 pm
Posted on 7/21/17 at 3:53 pm to Fat Man
Yes, 30 days if you want to avoid the wash sale rule. LINK explaining the rule on Investopedia
If you don't care about the rule, then there is no time limit, though you'll give up tax benefits by doing so.
If you don't care about the rule, then there is no time limit, though you'll give up tax benefits by doing so.
This post was edited on 7/21/17 at 3:54 pm
Posted on 7/21/17 at 3:53 pm to Fat Man
Google wash sale rule. Normally you have to wait at least 30 days.
Posted on 7/21/17 at 3:57 pm to Omada
Thanks. I knew it applied to muni bonds .... suspected stocks, but wasn't sure.
Posted on 7/21/17 at 5:40 pm to Fat Man
You can buy the index immediately to gain exposure and avoid the wash sale FYI.
I.e. Sell COP at a loss and immediately buy XLE to maintain exposure to energy market and capture the loss.
I.e. Sell COP at a loss and immediately buy XLE to maintain exposure to energy market and capture the loss.
Posted on 7/21/17 at 7:29 pm to Fat Man
There is nothing stopping you from doing this. Day traders do it all the time.
As others have noted, there is a "wash sale" rule that states transactions within 30 days of each other are netted for tax purposes.
As others have noted, there is a "wash sale" rule that states transactions within 30 days of each other are netted for tax purposes.
Posted on 7/22/17 at 12:54 pm to Fat Man
The best way to do this is to double the shares you already have by buying more and then selling the old shares 30 business days later.
Posted on 7/22/17 at 12:57 pm to JDMMonroeTiger
Apparently, it's 30 calendar days, not business days.
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