In June 2018, Karen transferred property with a $75,000 FMV and a $20,000 adjusted basis to Hal, her husband. Hal dies in March 2019; the property has appreciated to $85,000 in value by then. His gross estate is $1 million.

a. What is the amount of Karen's taxable gift for 2018?

b. What gain would Hal have recognized if he sold the property for $95,000 in July 2018?

c. If Hal wills the property to Dot, his daughter, what basis would Dot have?

d. How would your answer to Pan c change if Hal instead willed the property to Karen?

e. How would your answer to Pan d change if Hal did not die until August 2019?