1. Mary made the following gifts:

Gift Donee Value

Cash Son $14,000

6-month certificate of deposit Daughter 6,000

Antique furniture Sister 24,000

Stocks in trust: Life estate Brother 78,000

Remainder Daughter 22,000

Mary's taxable gifts total:

A. $128,000

B. $114,000

C. $ 96,000

D. $ 86,000

2. Nancy, who is single, made the following gifts:

Paid $12,000 in medical bills for her friend. The payment were paid directly to her friend's doctor.

$15,000 to her mother to help her with rent and groceries.

$20,000 to her nephew, Tom, to get him started in business.

Nancy also has made a $50,000 interest-free demand loan to her nephew, James. The loan is still outstanding. The applicable federal interest rate remained constant at 5%.

What is the amount of Nancy's taxable gifts?

A. $39,000

B. $ 7,000

C. $12,000

D. $10,000

3. Mr. C, a U.S. citizen, made the following gifts:

$15,000 cash to his son; $50,000 to his wife, also a U.S. citizen.

Equipment to his brother (fair market value $12,000; adjusted basis $8,000).

$100,000 cash to City W for construction of a new city park.

Without considering gift-splitting, what is the total of Mr. C's exclusions and deductions for his gift tax return?

A. $160,000

B. $168,000

C. $174,000

D. $177,000

E. $176,000

4. Blum who is single, gave an outright gift of $50,000 to a friend, Gould, who needed the money to pay medical expenses. In filing the gift tax return, Blum was entitled to a maximum exclusion of:

A. $50,000

B. $22,000

C. $14,000

D. $ 0

5. Mr. C made the following gifts:

$12,000 to a university to pay tuition costs for his niece.

An undeveloped tract of land to his sister that had an adjusted basis to Mr. C of $4,000 and a fair market value of $25,000.

Various shares of stock to his wife that had an adjusted basis to Mr. C of $15,000 and a fair market value of $40,000.

Mr. C did not consent to gift-splitting. What is the total amount of taxable gifts?

A. $ 0

B. $27,000

C. $11,00.

D. $77,000