Dana is single, age 45 with no dependents. Phil Harten, Danas father, died September 17, 2019. Phil was never married and owned in excess of $15,000,000 in wealth at the time of his death. Prior to his death, Phil gave Dana 100 shares of Murphy Digital, Inc. stock (see below). In July of 2020 Dana inherited the following property from the Estate of Phil Harten:

	Pre-death Adjusted Basis To Phil	9/17/2019 FMV	3/17/2020 FMV	Dana's Basis
SNL, Inc. stock	$100,000	$500,000	$525,000	a.)
Conehead, Inc. stock	250,000	75,000	60,000	b.)
I Samurai, Inc. stock	140,000	80,000	70,000	c.)
Lorne Lane House	400,000	350,000	300,000	d.)

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Gifted Asset	Phil's Cost	FMV Gift Date	Dana's Gain/Loss
Murphy Digital, Inc.	$20,000	$28,000	e.)

The adjusted basis amounts above are the basis amounts to Phil immediately before his death/gift. Phil's Executor does not elect the alternate valuation date (AVD). Assume that Dana had no items from prior years that affect 2020 other than those listed above. Assume also that Dana sold the Murphy Digital stock during the current year for $25,000.

1. What is Danas basis of each of the inherited assets? You may fill in the last column in the table above [a, b, c, and d] OR identify Dana's Basis by designating the amount for [a, b, c, and d]. For the Murphy stock sale (in part e) indicate the gain or loss on the sale, if any.
2. Would Phil need to file a gift tax return in the year he gave Dana the Murphy Digital stock? Explain.
3. Would Phils estate be subject to the Federal Estate Tax? Explain.