Jezebel owns the building in which her firm is housed. Jezebel wants to help her grandson with college expense so she gives the building to her grandson. Her firm then agrees to lease the building back from her grandson. Which is true?

When Jezebel dies, the value of the building will be in her gross estate.

Jezebel$$s grandson only owns the building for a specified number of years.

Jezebel$$s grandson will have the same basis in the building as Jezebel had.

Group of answer choices

$2$ only

$1$ and $3$ only

$1$ only

$3$ only