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I'm not sure where the $27,000 is coming from. You and your spouse, (I'm assuming you're married), can gift $28,000 (FMV) of stock to your son. Assuming the FMV of the stock exceeded your basis and your son sold the stock immediately he'd use your basis to calculate the gain.
Whether there would be a "family" tax savings or not depends on whether the "kiddie tax" is applied to that trade, or not. If it is applied then there's little "family" tax savings.
The kiddie tax is explained on the IRS's site here:
https://www.irs.gov/taxtopics/tc553.html
and the criteria for the kiddie tax applying are:
--------------------------------------------------------------------------
Child's Tax Return
Figure the child's tax on Form 8615 (PDF), Tax for Certain Children Who Have Unearned Income, and attach it to the child's tax return when:
I'm not sure where the $27,000 is coming from. You and your spouse, (I'm assuming you're married), can gift $28,000 (FMV) of stock to your son. Assuming the FMV of the stock exceeded your basis and your son sold the stock immediately he'd use your basis to calculate the gain.
Whether there would be a "family" tax savings or not depends on whether the "kiddie tax" is applied to that trade, or not. If it is applied then there's little "family" tax savings.
The kiddie tax is explained on the IRS's site here:
https://www.irs.gov/taxtopics/tc553.html
and the criteria for the kiddie tax applying are:
--------------------------------------------------------------------------
Child's Tax Return
Figure the child's tax on Form 8615 (PDF), Tax for Certain Children Who Have Unearned Income, and attach it to the child's tax return when:
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