The basic steps to sell stock on Charles Schwab

To sell stock on Charles Schwab, log into your account, find the stock in your portfolio, click the sell button, enter how many shares you want to sell, review the order details, and submit. The order goes to the market immediately (or at market open if you place it after hours). Schwab will show you the price per share and total proceeds before you confirm, so you see exactly what you're getting.

The whole process takes about two minutes once you're logged in. Your cash arrives in your account the next business day after the sale settles — Schwab calls this T+1 settlement, meaning trade day plus one. You can then withdraw that cash or use it to buy something else.

If you've never sold before, the interface can feel unfamiliar, but Schwab walks you through each field. The hardest part is usually deciding when to sell, not how to execute the sale itself.

Key Takeaways

  • Log in, find your stock in the portfolio tab, click sell, enter the number of shares, and confirm the order — the sale executes immediately or at market open.
  • You see the price per share and total proceeds on the confirmation screen before you submit, so there are no surprises about how much you'll receive.
  • Cash from the sale lands in your account the next business day and is immediately available to withdraw or reinvest.
  • Partial sales are allowed — you can sell 10 shares of a stock you own 100 shares of without selling the whole position.
  • Market orders sell at the current market price, while limit orders let you set a minimum price you're willing to accept.

Where to find the sell button in your Schwab account

Open Schwab's website or mobile app and log in. Click the "Accounts" tab (on web) or the account icon (on mobile), then select the account holding the stock you want to sell. You'll see a list of your holdings — stocks, funds, bonds, everything you own in that account.

Find the stock by ticker symbol or company name. Click on it or tap it, and a detail panel opens showing how many shares you own, the current price, and your gain or loss. From there, click the "Sell" button. On mobile, it's usually a green button at the bottom of the screen. On the website, it's typically in the action menu next to the stock name.

If you can't find the sell button, you may be looking at a mutual fund or a holding that Schwab restricts from selling online (rare, but it happens with some company stock plans). Call Schwab at 1-800-435-4000 if you get stuck — they can walk you through it or execute the sale over the phone.

Market orders versus limit orders when selling

A market order sells your shares at whatever price the market is offering right now. If you place it during market hours (9:30 a.m. to 4 p.m. Eastern, Monday through Friday), it executes within seconds at the current bid price. This is the fastest way to sell and guarantees your order will go through, but the price you get might be slightly different from what you saw on screen a few seconds earlier — that's called slippage, and it's usually just a few cents per share.

A limit order lets you set a minimum price. You tell Schwab, "Sell my shares, but only if I can get $50 or more per share." If the stock never reaches $50, your order never executes. Limit orders are useful if you're selling a stock that doesn't trade very often or if you're willing to wait for a better price. The trade-off is that you might not sell at all if the price doesn't cooperate.

For most people selling individual stocks, a market order is simpler and faster. Use a limit order if you have a specific price target in mind and you're patient about waiting.

Understanding settlement and when your cash is available

When you sell stock, the transaction settles the next business day. That means Schwab receives the cash from the buyer on day two, and it lands in your account as a cash balance you can use immediately. You don't have to wait for anything else — the money is yours to withdraw or reinvest right away.

If you sell on a Monday, settlement is Tuesday. If you sell on a Friday, settlement is Monday (assuming Monday is a business day and not a holiday). Weekends and market holidays don't count. This T+1 timeline is standard across all brokers, not just Schwab.

One practical note: if you sell stock and immediately buy something else with the proceeds, make sure you have enough cash in your account. Schwab won't let you spend money that hasn't settled yet, so you may have to wait until the next day. If you're a frequent trader, this matters less because you usually have cash sitting around anyway.

Selling partial positions and fractional shares

You don't have to sell all your shares at once. If you own 100 shares of a stock, you can sell 25 and keep 75. When you click sell, Schwab asks you to enter the number of shares — just type the amount you want to get rid of, and the rest stays in your account.

Schwab also allows you to sell fractional shares — that is, 10.5 shares instead of just whole numbers. This matters if you've been reinvesting dividends or if you bought fractional shares in the first place. The process is identical: enter the number (including the decimal), and Schwab handles it.

Partial sales are useful if you want to take some profit off the table while keeping some exposure to the stock, or if you need cash but don't want to exit the position entirely. There's no fee or penalty for selling a partial position.

Taxes and what Schwab reports to the IRS

When you sell stock for more than you paid for it, you owe capital gains tax. Schwab doesn't pay that tax for you — you do, when you file your tax return. However, Schwab tracks your cost basis (what you paid for the shares) and your sale price, and reports the gain or loss to the IRS on a form called a 1099-B.

Schwab also lets you choose which shares to sell if you own the same stock at different prices. If you bought 50 shares at $20 and 50 shares at $30, and you want to sell 50 shares, you can tell Schwab to sell the cheaper batch (lower tax bill) or the more expensive batch (higher tax bill). This is called lot selection, and you can specify it when you place the order or contact Schwab to change it afterward.

Keep your own records of what you sold and when. Schwab's records are accurate, but your tax preparer will need the details to calculate your tax liability correctly. If you're unsure about the tax impact, talk to a tax professional before you sell — the decision can save or cost you real money.

Common reasons a sell order might fail or be delayed

Most sell orders go through without a hitch, but a few things can stop one. If the market is closed (after 4 p.m. or on weekends), your order sits in a queue and executes at market open the next business day. That's not a failure — it's normal. You'll see the order marked as "pending" until it fills.

If you try to sell more shares than you actually own, Schwab will reject the order. This can happen if you've sold shares but the settlement hasn't cleared yet, or if you miscounted. Check your holdings balance before you submit.

Stocks that trade very rarely or have extremely low volume might take longer to sell, or you might get a worse price than expected. This is rare with large, well-known companies but common with penny stocks or very small companies. If your order isn't filling, call Schwab and ask whether the stock is liquid enough to sell easily.

Frequently Asked Questions

Do I have to pay a commission to sell stock on Schwab?

No. Schwab stopped charging commissions on stock sales in 2019. You pay nothing to sell, regardless of how many shares you're selling or how often you trade. The only cost is the bid-ask spread — the tiny difference between what buyers are willing to pay and what sellers are asking — but that's built into the market price and not a Schwab fee.

Can I sell stock after the market closes?

You can place the order anytime, but it won't execute until the market opens the next business day. If you submit a market order at 6 p.m., it sits in Schwab's queue and sells at market open (9:30 a.m. Eastern) the following day. If you want to control the price more precisely, use a limit order and specify the minimum price you'll accept.

What happens if I sell stock and then immediately want to buy it back?

You can do it, but be aware of the "wash sale" rule. If you sell a stock at a loss and buy the same stock (or a substantially identical one) within 30 days, the IRS won't let you deduct the loss on your taxes. The loss gets added to the cost basis of the new shares instead. This rule exists to prevent people from harvesting tax losses artificially.

How do I know if my sell order actually went through?

Log back into your account and check the "Orders" or "History" section. Schwab shows you every order you've placed, whether it filled, the price it filled at, and the date. You'll also see the cash from the sale appear in your account balance the next business day. If you're unsure, call Schwab at 1-800-435-4000 and they can confirm the status in seconds.

Can I cancel a sell order after I've placed it?

Yes, but only if it hasn't filled yet. If you placed a market order during market hours, it probably filled within seconds, so cancellation isn't an option. If you placed a limit order or an after-hours order, you can cancel it from the Orders section of your account before it executes. Once it fills, the sale is done and you can't undo it — you'd have to buy the shares back separately.