Merideth Gray completed the following transactions in $2023$:

$($a$)$ She gave Derek Sheppard $($her husband$)50$ common shares of Seattle Grace Hospital

Inc., a public company.

$$ It had cost her $$25$ per share.

$$ When she gifted the shares to her spouse, they were valued at $$50$ per share.

$$ She gifts them to Derek at FMV$.$

$$ The shares pay an annual dividend of $$5$ per share.

Be sure to go through if she were to stay in the rollover or opt out of the rollover.

$($b$)$ She gifts land to her daughter.

$$ The value of the land when transferred was $$40,000.$

$$ The land has a cost base of $$20,000.$

$$ She intends of transferring the land at $$50.$

Required $$

For each scenario above, tell Merideth what ALL the tax implications are $($capital gains and any

attribution of income$).$