Tax question

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srandl

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Tax question

posted on Apr 04, 2008 05:26AM

What are the tax rules for buying and selling stock? That is if I sell some shares then buy it back the same day, same ticker company never received a wire transfer or check from TDameritrade do I have to pay taxes on the amount gained or is there a period of time allowed for reinvestment. In 2006 I did this with some of my PTSC stock. I ask this question because I am meeting with an IRS auditor this morning about it. Any help I can get would be greatly appreciated. I'm still under break even on this stock overall.