Paying back a loan with Stocks

I let a family member borrow $40,000 in 2000 and now they wish to pay me back by transferring shares they own of a publicly traded company. I haven't charged them interest nor have i reported the loan to IRS. What is my tax liability if i was to accept the stocks? Thanks in advance. Lev

It depends on how much the stock is worth as it could be classified as a gift, which as of this year doesn't require taxes paid up to $12,000. You may want to refer to JK Lasser's Tax guide at your local library.