Please select the best choice:

Which of the following is not a gift which qualifies for the annual exclusion?

1. Deena transfers her car with a value of $10,000 to her son Edward.
2. Deena transfers stock worth $200,000 to a trust with income payable to her for life and the remainder to her son Edward.
3. Deena transfers property to a trust for the benefit of her minor son Francis. No income is payable to Francis until he reaches the age of 21, but the trust provisions permit him to demand withdrawal of the amount of annual contributions to the trust up to the amount of the annual exclusion.
4. Two of the above

Which of the following would qualify for a gift-splitting?

1. Herbert and his wife Kelly transfer stock worth $30,000 to their son Ignatius.
2. Jakob and his wife Mariska, a Hungarian citizen living in Hungary, transfer stock worth $30,000 to their son Istvan.
3. Louise and Marv transfer stock worth $30,000 to their son Nels after having divorced.
4. None of the above.