If I sell one stock and use that money to buy another, do I still have to pay taxes?

Question:

I want to sell my shares in this company and use that money to buy shares in another company. I use sharebuilder.com. I want to know if I have to pay taxes on the profit I made from the first stock before I buy the 2nd stock, or is there some kind of cool law that says if I roll the profits into a new stock then I don't have to pay taxes on it? (hey, it works in real estate).

Answer:
yes, you have to pay taxes, sorry.

If you held that first stock longer than a year, then 15% of your gains go to taxes.

If you held that first stock less than a year, then whatever tax bracket you are in, that percentage goes to taxes.

Wishful thinking.

Yes, you do have to pay taxes on the gain from the first stock.

Only if you made money. Capital Gain

I'm not a tax person, but I believe this to be true. Unless you do all this within a tax sheltered account like an IRA or 401K, IRS will want some report for capital gains or losses. Schedule D. Taxes will apply. Nice try!

If your cousin Pedro from Mexico is buying the second stock then you don't have to pay any taxes when he sells it. If you know what I mean.

If I sell one stock and use that money to buy another, do I still have to pay taxes?

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