cschock
Head-Fier
Wow, I'd better call the IRS and ask them for my money back. When I sold 5 shares of Tesla and immediately reinvested the proceeds into Johnson & Johnson, Uncle Sam demanded I pay taxes on my capital gains. I'm glad you informed me about their mistake. They should know better. Or tried to pull a fast one on me.
Yeah, I am not sure why people on this thread seem to think this is a thing that exists. Under the United States Tax Code, if you sell stock for more than you paid, you generate a gain which is taxable in the year you sold it. Doesn't matter what you do or do not buy with the proceeds, it is a taxable gain either at long term capital gains or normal income rates depending on how long you owned the equity. Now, you still may not end up oweing taxes if other transactions generated enough losses to offset the gains on the sale, but that is a totally different thing.