This is off topic so please reply in the off topic forum or pm me. I need to educate myself on transferring some shares to family. U.S. trading. If I transfer shares, what is the price they use to designate the cost basis? And what is the price used to determine if it is under the $15,000 IRS allowable gift amount? Is it the closing price that day? Or the price at which you designate in the account based on a purchase already transacted? I'm having trouble getting a straight answer and I don't want to screw up. Anyone very well versed in this area? If you can help me understand, please pm me or take it off topic.   Thanks in advance.