U.S. tax implication if I transfer stock to parents

[okinawafl]

I am u.s. tax resident (TN visa, stay in U.S. more than two years). I have a U.S. bank brokerage account and I want to transfer stock (in-kind) to my parents' brokerage account as a gift.

May I know:
1. For gift tax purpose, would the cost of stock when I purchase or FMV of stock on the date of transfer would be used?
2. do I need to pay any capital gain on the in-kind stock I transfer to them?
3. how would I report this transfer in my 1040 tax return? Am I expect some types of tax slips from my u.s. bank?


Thanks a lot