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I have a couple of situations that I would like to try and understand the consequences before acting (or not acting).

I received stock as a result of a NQSO payout when my former employer was purchased. Since it was a NQSO all taxes were paid on the value of the distribution, $46/share. If I understand it correctly, I will not owe any taxes on any sales of this stock as long as the shares are sold for the original $46 or less. I will owe long term gains on anything above the $46 (this all happened in 2000). Am I correct?

In another case my fiancée received stock at the same time as a result of a ISO payout. Since it has been over 1 year I believe that she will need to pay taxes on the difference between what she paid for her options, $12, and the price each share is sold at. The stock is holding steady at about $31.

Finally, we both hold actual stock certificates. Can we just take these down to someone like a local Scottrade office and open up an account with these shares so that we can then diversify and cash out some shares or is there a better alternative?
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