Is Selling Stocks Considered Income?

[enclaust]

I have some stocks that I’ve held on for a while now that I plan sell. I already know all about capital gains, but what if I sell a stock but I don’t withdraw the money. Will it still be considered that I got income? Asking because I am currently under unemployment benefits and Im wondering if its worth selling my stock or risk losing my benefit for a small bit of extra cash. 

[tagteam · Accepted solution]

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@enclaust wrote:

....what if I sell a stock but I don’t withdraw the money....? 

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Any gain (or loss) is still recognized regardless of what you do with the proceeds, whether that involves spending the proceeds, purchasing other stock or securities, or just leaving the proceeds in cash in your account at the brokerage firm.

In short, the capital gains would still be subject to taxation but note that such gains would ordinarily not have any adverse impact on your unemployment benefits.