Question:
Do I need to ask my broker to sell it, or Abbott will automatically take away my shares and deposit $78 per share in my account? I hope to postpone this until 2007 for tax reason.
Answer:
Unless you have this stock in a 401K or IRA--the profits are taxable. The taxable profit/loss status remains, whether you sell them or let them be cashed out into your account.
I would let them be tendered as cash to save the broker's fee of selling.
Hint, Get rid of your Broker and get with a self directed group like Schwab--make your own trades real cheaply!
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