Gift tax consequences with Section referencing Margaret transferred an office building worth $2,000,000 to a trust with her brother, Andrew, named as the income beneficiary. Under the trust, income was payable to Andrew for life and upon his death, the trust would terminate, and the corpus would be distributed to Margaret's children, equally. Margaret was designated as the trustee. The trustee had the power with Andrew's consent to accumulate the income and add it to the corpus. With Andrew's consent, Margaret decided to accumulate the income during the current year.

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