D. Father had made a $20,000 gift to son on February 1, 2019. Is any gift tax return due, and if so, when? Explain.

E. Father also give his granddaughter Pepsi stock worth $10,000 (his cost $5000) on January 1, 2019. She sold it on June 1 for $20,000 and wants to know the tax result. Is there any difference if she inherited the stock? 2. Fiduciary tax calculation Golden Family Trust is not required to pay out any of its income to its two beneficiaries, Au Golden and Ima Golden. The trust allocates income and expense according to standard state law. Tax year is 2019. The trust does not distribute anything to the beneficiaries. Compute the trust taxable income. Income Bank 3/5/7 Interest $20,000 Pepsi dividends 5,000 Net Long term capital gain 10,000 Expenses Fiduciary fees 2,000 tax preparation fees 500

3. Summarize the following cases:

A. Estate of Mark S. Gallo, 50 TCM 470 (1985)

B. Wells Fargo Bank v Comm., 319 F.3d 1222 (11CA,2003)

C. Christopher Stone v. Comm., 54 TCM 462 (1987)