1. Assume D, a widower, made no prior taxable gifts. Consider 2501, 2502, 2505, and 6019.
   1. In 2012, D makes his first taxable gift in the amount of $500,000. What [39/40] are the gift tax ramifications of the transfer? What is the amount of the gift tax payable? Must D file a gift tax return?
2. 2. In 2014, D makes a taxable gift in the amount of $5,500,000. What are the gift tax ramifications of the transfer? What is the amount of the gift tax payable? Must D file a gift tax return?
3. 3. What would be the amount of the gift tax due if D made no gifts before 2014 but made taxable gifts of $6,000,000 in 2014? What are the gift tax ramifications of the transfer? What is the amount of the gift tax payable?
4. 4. How would the answers to b and c change if the taxable gifts were made in 2015 instead of in 2014? Carefully consider 2010(c)(2)(B) in relation to 2502(a)(1).