Realty ONE Group
Everyone's situation is different. There is no way that we can or should advise you on this question. I have seen some people purchase after 2 years and others much longer after a short sale. There are far too many variables that we are unaware of to guide you in any direction.
My advice to you would be to contact your local lender. Ask him or her to make time to go over your financials and ask their opinion. You may also want to talk with your accountant.
The encouraging news is that you have a 680 FICO score following a short sale. You should be able to move forward very soon. Come back and let us know how it turns out and the best of luck to you both.