Ned Norris, a widower, engaged in a transactions described below during 2017. He made only one earlier taxable gift, $1.2 million in 2014. Use this information to prepare a 2017 gift tax return (Form 709) for Mr. Norris, who resides at (the address info). Pages 4 and 5 of the form are not applicable.

. Transfer of title to unimproved land to son Nathan, age 31, fair market value of $2 million and adjusted basis of $300,000

. Payment of tuition ($35,000) to Private College and payment of off-campus apartment rent ($18,000) to Tall Tower, LLC for the benefit of daughter Natalie, age 21

. Transfer of title to vacation beach house to County Hospital, fair market value of $525,000 and adjusted basis of $320,000.

. Payment of $17,000nlife insurance premium on an insurance policy on his own life. He made a gift of the insurance policy to Nathan four years ago.