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Editor’s Note: This story originally appeared on The Penny Hoarder.

There’s a lot to consider when selling stocks, including your tax bill.

People sell stocks for numerous reasons. But if you make a profit on the sale, you generally need to report it when you file your taxes the following year.

(Different rules apply when selling stocks inside a retirement account.)

Before you hit that trade button, make sure you understand what happens when you sell a stock.

Here’s everything you need to know.

Know When to Sell a Stock

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There’s no “perfect” time to sell a stock. The best time to sell depends on your personal investment strategy, risk tolerance and time horizon.

Stock prices…

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