: Selling Stocks and Re-balancing my account: how will this effect my taxes? This is my first year diving into stocks. Individually, I own around 10 different stocks, and one or two of them seem to be doing much better than

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(Assuming United States.)
If you sell stocks that you've lost money on within a year of buying them, that's a short-term loss that reduces your taxable income. If you sell stocks that you've lost money on more than a year after you've bought them, that's a long-term capital loss that reduces your capital gains and up to ,000 in losses can be deducted against ordinary income.
The reverse is the case if you sell stocks you've made a profit on. Stocks held less than a year produce ordinary income. Stocks held more than a year sold for a gain produce long-term capital gains that are typically taxed at a lower rate than earned income.
People with high tax rates commonly sell stocks that they have a loss on within a year of buying them to materialize the loss as an ordinary loss. People with high tax rates commonly sell stocks they have a loss on before the end of the year to get a tax deduction for that year.
Just be warned, you can get in trouble if you buy and sell the same stock (or substantially similar stocks) within 30 days, even if you do it in different accounts.

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one or two of them seem to be doing much better than others. I believe
I would like to sell some of the ones that aren't doing so hot, and
reinvest them into some of the others that are.
I believe this is what is referred to as "re-balancing" my account, is
that correct?

When people talk about rebalancing their investments they usually do the opposite to what you propose.

Lets say that you believe that 1/3 of your investments should be in the tech sector, and 1/3 in healthcare, and 1/3 in foreign stocks.
Now a year later the tech stock are doing great and the foreign stock aren't doing so well. So now the tech/health/foreign split is now 50/30/20.
If you are going to rebalance you will sell some of the tech shares, and buy more foreign shares, and maybe invest a little more into the health sector.
This means you are selling high, and buying low.

Now this is different than saying company x has reached a criteria, and I have decided that means I should sell. Rebalancing moves you back to an asset allocation you want to maintain.
The tax implications depend on the time frame you have owned the shares, and the type of account.

Will I have to pay taxes on the money I make off selling the stocks
even if all that money goes into another stock?

I have not heard of a plan that forgives capital gains taxes on the sale of shares because the money is used to buy more shares of another company. I do know that some retirement accounts can defer taxes until retirement, or can even be tax free. But in those cases the tax treatment doesn't depend on what happens to the proceeds as long as they remain in the retirement account.

Then perhaps it would be better not to sell them, but to simply
purchase more of stocks which are doing better, and leave the others
alone?

Sometimes people who are going to rebalance, and don't want to deal with tax issues, change how they invest new money. They buy shares in the lower performing sector, and no shares in the better performing sector until they bring the asset allocation back into alignment.
Yes rebalancing can be counter-intuitive.