banks can NOT withhold immediately from your gain; and you are right, there is no choice in the matter...it is capital gains tax and it's computed through your own personal taxes, the bank REPORTS the transaction to the IRS and you settle up with them. I don't think there is a reputable bank in the US that would help ANYONE dodge any tax liability, for any reason what so ever. Let's just say this does happen in 2010; you would not pay any taxes on it until you file your federal income taxes next year (in 2011 for 2010). You are liable for the taxes, so you need to have a good understanding of what the tax implications will be when the time comes, and if you are smart you will set that money aside to settle up with the IRS in 2011 for the gain you had in 2010. You do however have the OPTION to report it early if you chose not to wait until tax time the following year, you can make an estimated gain tax payment whenever you want to, but I would rather let mine sit in MY bank account somewhere and draw interest in MY ACCOUNT not the governments.
