I don't know all the proper terminology so I hope this is understandable. My father gave me a chunk of stock. The stock I now own is directly bought and handled through the company who's name is on the stock; i.e. ATT (don't laugh). Its intended purpose was to recycle the dividends back into more shares and thus be a bit of a savings cushion for me when I'm older.
I wish to take the stock and transfer it to a brokerage. I do not wish to cash out my stock but rather put it to better use in another long term safe stock for my future.
Is this possible? Will I get hit with a tax issue? What do I need to know? My stock is losing value over time so regardless of the quantity of shares, the value is just not there. I dislike seeing a potential future savings withering away, thus I want to put my stock into something that I have a tad more control over, and that should be through a brokerage, right?
Thanks to any and all who assist!