Taylor creates a revocable trust initially funded with $$1,750,000$ cash. Taylor is the trustee. During her lifetime, Taylor will receive an annual, annuity payment of $5\%$ of the balance of the trust funds. Once Taylor dies, the trust will terminate and all trust funds will be payable to her best friend, Brenda. Taylor's accountant tells her that she must file a gift tax return, even though no gift tax will be payable, for the gift to Brenda.

Group of answer choices

True

False