A donor gives a 1/12 undivided interest in all his rights in a vacation home to a local charity (including the right to use or rent out the property for one month per year). The donor gives an additional 1/12 undivided interest each year for 10 more years to the same charity. The donor retains the final 1/12 interest to be kept by his family so that they can use the vacation home for one month out of each year. The property is valued at $120,000 at the time of the initial 1/12 interest gift. Each year it increases by an additional $12,000 by the time of the transfer of each subsequent 1/12 interest gift. What is the total value of the deduction for this gift? $10,000 (year 1)+ $11,000 (year 2)+ $12,000 (year 3)+ $13,000 (year 4)+ $14,000 (year 5)+ $15,000 (year 5)+ $16,000 (year 6)+ $17,000 (year 7)+ $18,000 (year 8)+ $19,000 (year 9)+ $20,000 (year 10)+ $21,000 (year 11) $10,000 x 11 $22,000 x 11 $120,000 $0 (or less depending upon interest and penalties)