Mark and Suzie are married. They have elected to gift split in 2023. Mark gave these gifts in 2023: Mark's wife Suzie gave these gifts in 2023: Transferred stock to a trust. The trust will Pay her best friend Ann income for the next 30 years and Then the remainder will go to Ann's husband, Josh. Ann's is currently 36 years old and the interest rate That is applicable is 5.0. The value of the stock is $1,250,000 The only other gifts Mark gave were in 1990 and 2002. He gave away stock that had a FMV of 1,500,000 to his best friend Ray in 1990. The annual exclusion in 1990 was 10,000 . His taxable gift that year was 1,490,000. He also gave away a yacht to his other best friend Andy in 2002. The annual exclusion in 2002 was 11,000 . The value of the yacht at the time was 2,500,000