Ned Norris, a widower, engaged in the transactions described below during 2018. He made only one earlier taxable gift, $1.2 million in 2014. Use this information to prepare a 2018 gift tax return (Form 709) for Mr. Norris, who resides at 11616 Starstruck Blvd., Southern City, CA 90068. Pages 4 and S of the form are not applicable to him.

• Transfer of tide to unimproved land to son Nathan, age 31, fair market value of S2 million and adjusted basis of $300,000.

• Payment of tuition ($35,000) to Private College and payment of off-campus apartment rent ($18,000) to Tall Tower, LLC for the benefit of daughter Natalie, age 21.

• Transfer of title to vacation beach house to County Hospital, fair market value of $525,000 and adjusted basis of 5320,000.

• Payment of $17,000 life insurance premium on an insurance policy on his own life. He made a gift of the insurance policy to Nathan four years ago.