I gifted stocks to my grown children. How do I report those gifts on my 1040? Please be specific in steps to take. Thanks you.

You don't report gifts on your 1040......you report them on form 709 and you'll probably need help from a tax pro for this.

form 709 

A gift of any size is not reported on your income tax return.

If the gift had a value of $17,000 or less, the gift is not taxable to you or to the recipient. (For married couples, the limit is $34,000.)

If the gift was worth more than $17,000 ($34,000 for married couples), you must file Form 709: U.S. Gift (and Generation-Skipping Transfer) Tax Return, which is due April 15 of the following year. Even if you do not owe a gift tax because you have not reached the $12.92 million lifetime limit, you are still required to file this form if you made a gift that exceeds the $17,000/$34,000 annual gift tax exclusion level. The IRS needs to keep a running tab of your lifetime exemption.

Read more about this here: TurboTax Tax Tips: The Gift Tax