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I wonder can I transfer ESPP stocks to my son who is 16 years old. Each year I would like to tranfer 10,000.00 worth stock as gift, so he can pay his own college bills. If I transfer as gift, do I need to pay any tax? What kind of tax my son will need to pay? How to transfer? If anyone know,please let me know. Thank you very much.
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I wonder can I transfer ESPP stocks to my son who is 16 years old. Each year I would like to tranfer 10,000.00 worth stock as gift, so he can pay his own college bills. If I transfer as gift, do I need to pay any tax? What kind of tax my son will need to pay? How to transfer? If anyone know,please let me know. Thank you very much.

As long as it is less than $10,000 per calendar year, neither you nor your son would need to pay any taxes. If you're married, your wife can also give up to $10,000 to that same son, likewise without taxes.

As far as transferring the stocks goes, there are several ways to do this. You can probably get a stock certificate from your ESPP and then sign it over to your son. If you have a stock broker s/he could help you with the "signing over" part.

--malakito.
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