Renata asked in Business & FinanceInvesting · 2 months ago

If I sell and then buy stocks with my brokerage site without cashing out, do I have to pay taxes on those transactions? ?

10 Answers

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  • Anonymous
    2 months ago

    yes, you will have to pay taxes on it.

  • Anonymous
    2 months ago

    lol, unless you are in IRA, SEP or any retirement account, the government wants their cut of your money.

  • 2 months ago

    In a taxable account, you bet.  Sales are a taxable event.  Sales are not taxable events within an IRA or Roth IRA. 

  • 2 months ago

    Maybe you can try, foreign exchange investment, it feels more suitable for you

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  • 2 months ago

    If it is a regular (taxable) brokerage account:

    Yes.  You still have to pay the same tax, because the tax is on selling, not on cashing out.

    If it is an IRA, Roth IRA, 401k, etc., no, you pay tax on distributions, not on sales.

  • 2 months ago

    You have to report the gains. Whether you owe tax depends on variables we can't know.  If you realize a gain on a sale and put the money into another stock, it does not shelter that gain from tax reporting.  You do not get to defer tax reporting until you 'cash out'.  The only time you get to do that is with investments inside tax-deferred accounts such as non-Roth 401k and IRA plans.

  • Judy
    Lv 7
    2 months ago

    yes.................................................................

  • Anonymous
    2 months ago

    You pay taxes on gains. Leaving the money there does not allow you to not pay taxes unless its an IRA.

    But you will probably have losses. Most newbies & app "traders" do.

  • kswck2
    Lv 7
    2 months ago

    You have to pay taxes on any Capital Gains from the sale of stocks. 

  • 2 months ago

    yes.

    You pay capital gains when you sell stock, even if you don't take the transaction in cash. 

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