Subject: Gift Tax and Stock Basis
Is the following legal? It seems too easy.

If I have stock that has appreciated a lot, say $10 to $100/share, can I gift 180 shares ($18,000 worth) to my son. I pay no tax as I haven't sold the stock, and the cost basis for him is $100/share, so he can sell with no capital gains tax? Then he can gift me $18,000?

Aussi