Son graduating from college.

He is legally able to own firearms.

He does not have a permit to purchase.

Can I legally give him a handgun for a graduation present?

ETA- Probably. I'm no lawyer.

724.15
2. Any person who acquires ownership of a pistol or revolver shall not be required to
obtain an annual permit if any of the following apply:
e. The person transferring the pistol or revolver and the person acquiring the pistol or
revolver are related to one another within the second degree of consanguinity or affinity
unless the person transferring the pistol or revolver knows that the person acquiring the
pistol or revolver would be disqualified from obtaining a permit.

724.16 Annual permit to acquire required — transfer prohibited.
1. Except as otherwise provided in section 724.15, subsection 2, a person who acquires
ownership of a pistol or revolver without a valid annual permit to acquire pistols or revolvers
or a person who transfers ownership of a pistol or revolver to a person who does not have
in the person’s possession a valid annual permit to acquire pistols or revolvers is guilty of an
aggravated misdemeanor.
2. A person who transfers ownership of a pistol or revolver to a person that the transferor
knows is prohibited by section 724.15 from acquiring ownership of a pistol or revolver
commits a class “D” felony.
[C79, 81, §724.16]
90 Acts, ch 1147, §4; 94 Acts, ch 1172, §54

Ok. That sucks.

Maybe a Taco Bell gift card then.

Thanks. ??

Check again. Sorry...I'm doing research on the fly.

Read it too fast.

724.15

I think I can.

724.15

yes, you can.

jasonsbeer is quoting the correct law.
Assuming that your son is not a prohibited person.
It must be a gift, you can not take money, barter, or services in return for the firearm.

Disclaimer: I am not an attorney and I do not play an attorney on TV.  

Agree.  I told Scheels that I was interested in purchasing a firearm for a gift, they had no issue with it whatsoever.

Thanks for all the good info!

The gift card would be cheaper though. ??

It might be a good idea to get him through the concealed carry permit class anyway.
and he wants the Taco Bell gift card also now that you mentioned it.