Do I have to pay capital gains tax for gifts of my ESPP shares?

I am participating in my company's ESPP. I would like to give my family members a gift of shares. It would be considered a disqualifying disposition since it has been less than one year since the offering period. I know that I will have to pay income tax on the discount amount but will I also have to pay capital gains tax if I gift the shares to my family members?

Do I have to pay capital gains tax for gifts of my ESPP shares?
No, you can gift up to $12,000 per person per year without having to pay gift taxes. Now if you sell the shares and give family members cash you would have to pay capital gains taxes on selling the shares. If you give them the shares as long as the FMV of the shares is under $12,000 per person you wouldn't have to file a gift tax return. Even if you did have to file a gift tax return though there is a $1,000,000 liftetime exemption that you use against for gifts in excess of $12,000 per person per year, and it would be only the excess that you would use against the lifetime exclusion.
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