Determine which of the following 2014 annual gifts are


Determine which of the following 2014 annual gifts are subject to gift taxes and to what extent they need to be included in an estate. (a) Grandparents gave a grandchild $24,000 for the purchase of a new car. (b) Father gave $35,000 to a son to start a small business. (c) Parents paid $35,000 to Wellesley Collge for their daughters tuition. (d) Sister paid $47,000 of her brother's qualified medical expenses to Duke Medical Center. (e) Widow gave $105,000 to charity. (f) Mother gave a daughter a life insurance policy with a face value of $50,000 and a cash value of $10,000 2 years prior to the mother's death.

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Financial Management: Determine which of the following 2014 annual gifts are
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