In the current year, Marge (age 67) engages in the following transactions. Determine the amount of the completed gift, if any, arising from each of the following events. Assume 4% is the applicable interest rate.
a. Marge transfers $100,000 of property in trust and irrevocably names herself to receive $8,000 per year for life and daughter Joy (age 37) to receive the remainder.
b. Marge pays her grandson’s $15,000 tuition to State University.
c. Marge gives the same grandson stock valued at $72,000.
d. Marge deposits $150,000 into a revocable trust. Later in the year, the bank trustee distributes $18,000 of income to the named beneficiary, Gail.