Jack transfers property worth$$ $$250,000$ to a revocable trust on January $1.$

Twominus$$andminus$$aminus$$half

years$$ later, when the property is worth$$ $$300,000,$ the trust becomes irrevocable. Which of the following statements is

correct$?$

Question content area bottom

Part $1$

A$.$

Jack may elect which amount to report as a gift.

B$.$

A$$ $$300,000$ gift occurs when the trust became irrevocable.

C$.$

A$$ $$250,000$ gift occurs when the original transfer was made.

D$.$

A$$ $$250,000$ gift occurs when the trust became irrevocable