74: Father owns an apartment building. The building produces $50,000 of rents each year. Father gives Son the $50,000 rents from year one. Question 75 options: (A) Father has income tax liability for the rents (B) Father has made a gift of the rents to the Son. (C) Son has no income because of Father's gift (D) Son has $50,000 income on that year's rents (E) A, B, and C are all correct