Which of the following statements regarding the income from a QTIP trust is(are) CORRECT?

1. The income must be made payable over the lifetime of the surviving spouse.

2. The income must be paid at least annually to the surviving spouse.

3. There must be no conditions on the payment of income to the surviving spouse.

4. The income must be exclusively for the benefit of the surviving spouse.

A. 1 only

B. 1, 2, and 3

C. 2 and 4

D. 1, 2, 3, and 4

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George, who is unmarried, made the following gifts in 2020. The gift tax annual exclusion has not been previously used for any of the donees:

An antique chair (valued at $16,000) to his fiancee, Amy

Cash to his mother, Anita, in the amount of $14,000 $30,000 to Helping Hands, a charitable organization Bonds with a value of $21,000 to his niece, Lucy

Certificates of deposit worth $6,000 to his uncle, Larry Which gifts are subject to gift tax? How much of Georges lifetime gift tax exemption will he be required to use to make these gifts?