Question: Section 2 3 0 5 amount for 2 0 2 4 is $ 1 8 , 0 0 0 . Ann created an irrevocable trust

Section 2305 amount for 2024 is $18,000. Ann created an irrevocable trust funded with $600,000.
Ann All income to Bob for life (distributed annually, Bob is 70 years old) Remainder to Charlie or his estate. Assume IRC 7520 rate is 4%.
a. What is the value of Bobs income interest?
b. What is the value of Charlies remainder?
c. What is the amount of Anns taxable gift?

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