If you gave more than $15,000 in assets
(the value of the stock), you
need to file a gift tax return. That doesn't mean you have to pay a gift tax. It just means you need to file IRS Form 709 to disclose the gift. This amount will count against your lifetime gift allowance, which is currently $11.18 million. If the stock's value is less than $15,000 you don't need to report the gift. Either way, the recipient assumes your cost basis for the stock.
