John Angel is a prosperous rancher who lives in Idaho. He is 60 years old and has been married to Mimi for the past 37 years. Together, they have two adult children. Beatrice is 36 years old and married to Fred Manson; Alberto is 32 and single. John had not made any gifts to his children until 2009, the year after Beatrice got married. He gave each of them $500,000. This year, he made the following gifts:

Property	Recipient	Market value	Adjusted basis
Cash (from joint savings acct)	Beatrice	2,380,000
100 acres	Alberto	2,875,000	275,000
20,000 shares of Bubble stock	Idaho state college	800,000	25,000

Mimi is a joint owner of the savings account but has not contributed any money to it. John and Mimi filed gift tax returns for 2009 and offset the gifts by splitting them with each other. The returns also showed that the cash gift was given one-half to Beatrice and one-half to her husband, James. John and Mimi also intend to split the gifts the same way this year.

A 2019 Form 709 is required for John.