(1) Each of the named recipients of money or property below is your 2020 tax return client. All relevant facts, of which you are fully aware, occurred in 2020. In a few sentences, describe how comfortable you would or would not be in treat- ing each of these individuals' circumstances as reflecting a tax-free gift (therefore not reportable on Form 1040), and why. Note: I'm asking for your well-defended opinion here - there is no absolutely "right" or "wrong" answer. (a) Timmy and Tammy have been seeing each other for the better part of a year. On Valentine's Day, Tammy surprises Timmy with a $3,500 top-of-the-line Trek mountain bike.. (b) Billy works as the personal assistant to the CEO of ABC Corp., and she (the CEO) likes Billy very much. Very much in fact, at her initiation the two of them sometimes engage in after-hours activities of the kind more commonly associat- ed with romantic couples (although they aren't, really). On Billy's birthday she surprises him with a top-of-the-line Trek mountain bike. The $3,500 cost is not included on Billy's W-2... (c) Franny, a college student, receives no financial support from her family - she's on her own and is paying her own way through school. Franny is much too busy to hold down even a part-time job. However, she does list herself on a "sugar baby" website and on weekends finds time to see one or more gentlemen, all of whom are very generous. Franny does nothing illegal but does accept ex- pensive gifts, sometimes money, very appreciatively. One of her gentlemen- friends, for example, pays the rent on her apartment... (d) Dani is a hard-working server at an expensive restaurant. One evening, after a customer leaves, she finds that he has left not only the signed credit card bilI, including the standard 20% tip, but also $1,000 cash. And his business card...