If I withdraw money from my individual investment account (not my Roth IRA or 401k) will I be penalized? I heard it's taxed. How does that work?

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Depends on how long you’ve held your investment which will determine Short Term or Long Term capital gains tax

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By default most account have fifo(first in first out) unless tou specifically chose something else.that means The oldest puchases are sold first and gains are calculated between sell and buy price. The duration of hold if more than 1 yr will decide long term or short term tax rate

Hope this helps

Good comments above. It’s also worth noting that you’re not taxed for withdrawing money, but rather for selling stocks. If you have cash in your brokerage, you wouldn’t pay anything to withdraw that money

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There's no penalty, just short term or long term capital gains tax on the profit (if you made any).

Look at when you bought the securities in order to calculate what tax you may owe.

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