Cryptocurrency Q&A
What happens if you sell a stock but don't withdraw money?
What happens if you sell a stock but don't withdraw money?
Riccardo
Wed Nov 27 2024
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6 answers
1600
I sold some stocks recently but I haven't withdrawn the money from my brokerage account. I'm wondering what would happen to the funds if I leave them there. Will they automatically be reinvested or will they just sit in my account?
6 answers
NebulaChaser
Fri Nov 29 2024
In the United States, taxation on stocks operates on a specific principle.
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Eleonora
Fri Nov 29 2024
When you sell a stock, you are liable to pay taxes on it in the same year.
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EclipseChaser
Thu Nov 28 2024
This tax obligation arises regardless of how you utilize the funds obtained from the sale.
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EthereumEmpire
Thu Nov 28 2024
For instance, if you use the proceeds to purchase another stock, it doesn't alter your tax responsibility.
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Bianca
Thu Nov 28 2024
The withdrawal of funds from your account after selling the stock also doesn't impact your tax liability.
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