3. Which of the following transactions would constitute gifts for gift tax purposes indicate Yes or No)? If yes, how/when is the amount of the gift determined? a. b. Lending a daughter $40,000 to go to dental school, then tearing up the IOU upon graduation A transfer in trust, with income to A and/or B for life, remainder to C. (Grantor is trustee.) Placing a $500,000 home in joint tenancy with a new husband who did not contribute to the purchase price. Purchasing an engagement ring for $30,000 for his fiancee. e. Making a capital contribution to one's 40 percent owned partnership for working capital where the remaining 60 percent is owned by the transferor's children. f. Putting $100,000 in a joint savings account with the depositor's best friend