thats not tru! maybe for you in NYC youve been connd into paying taxes on things you havent ven made money on yet, but if you dont sell you stocks, you dont pauy capital gaisn tax yet! Thats why people never sell during december they wait till january because of the taxes...even my stocks teacher in colege taught us this and he was jewish! sorry that youve been conned into being forced to follow illegal laws that dont make any sense, its a shame
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I don't live in NYC...and you are confusing 2 things. Yes, you pay tax when you sell...you don't pay capital gains as the stock gains or loses value. Agree with you on that...but you do pay tax when you are first awarded or gifted the stocks. Your stocks teacher in college is correct...but your stocks teacher didn't cover the scenario of getting a stock award. Most people don't get stocks awarded to them, so it's not a common issue covered.