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Forum Money Topics Taxation Can I sell stocks to take profit for a year and repurchase same stocks immediately? Results 1 to 7 of 7. Can I sell stocks to take profit for a year and repurchase same stocks immediately?

Investment Taxes: The Buying and Selling Stock 30 Day Rule

Thread Tools Show Printable Version Subscribe to this Thread… Display Linear Mode Switch to Hybrid Mode Switch to Threaded Mode. I want to sell stocks and take profits for tax year I want to repurchase them immediately or withing few days after sale.

Can I do it without any consequences? I will not be selling any stocks that have losses, only profits. I expect higher income in , so I want to take profit while in lower tax bracket. All stocks are listed on Toronto Stock Exchange if that matters. I am in Ontario.

Other than triggering taxable capital gains, there are no other consequences. The only tax rules about selling and then re-purchasing apply when a capital loss is involved, and then you need to wait 30 days to re-purchase to avoid the superficial loss rules. See the CRA's What is a superficial loss?

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If the amount is large, make sure to pay an instalment on your taxes in December. Last edited by kcowan; at Eclectic12 View Profile View Forum Posts. Originally Posted by kcowan.

Originally Posted by Eclectic As you can see from the attached link to the CRA, the answer is "it depends". But if you follow their logic, then you would be OK. But I am just making the point to check whether OP is onside with the CRA. My taxes tend to be lumpy because I live off CGs so paying by instalments is not always the best option. Rusty O'Toole View Profile View Forum Posts.

You can also buy a call option, sell your stock, and buy it back 30 days later at today's price thanks to the call.

Or, if you need to hold for a certain period for a capital gain, protect yourself by buying a put option which guarantees you today's price. Tags for this Thread tax. All times are GMT The time now is