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Which of these are tax advantages of a lifetime gift over a transfer after death? The annual exclusion if the gift is of a present

Which of these are tax advantages of a lifetime gift over a transfer after death?

  1. The annual exclusion if the gift is of a present interest
  2. A step-up in basis at the donor's death
  3. The possible removal of potential appreciation from future transfer tax
  4. Gift tax paid is excluded from the gross estate, except for those taxes paid on gifts made within five years before death

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