Tau...

You don't have to sell anything...you can gift the KXL shares to your son..but you will pay capital gains or take capital losses on the day the shares are gifted..there is always a "Deemed transaction" on any movement of shares ...

The two taxable events are the price you bought the shares for...

The other ,in the eyes of the taxation people ,is the price of the shares that are gifted..and because it is a gift you can chose the price,between the high of the day and the low of the day ,on the day the shares are gifted..

There is flexibility there for you to take some tax advantage in the high/low spred ..but only on the day of the transaction.

Been there ..done that..

Portee