In 2019, Bert Richards transferred a $100,000 savings account to his wife in trust. The terms of the trust are that income is to be distributed annually to his wife, Mary Beth, the remainder to his two children, Oscar and Bertha, in equal shares or to their estate. The value of Mary Beth's income interest is $50,000.

a. Is this a taxable gift to Mary Beth? (See Code Sec. 2523(b)(1) and (e).)

b. Have taxable gifts been made for Oscar and Bertha?

c. How many annual exclusions are available? (See Code Sec. 2503(b).)