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Question 1: Which of the following gift made two years before the donor's death will be included in the gross estate at full date-of-death value?
1, A gift of $50,000 cash, which is split equally between a son and a daughter-in-law.
2, A gift in which the donor retains an income interest for life.
3, Donor's residence transferred into joint tenancy with donor's daughter.
4, Stock worth $30,000 given to a friend.
5, Life insurance policy (cash value $5,000) gifted by the deceased to an irrevocable trust.
Choices are:
Option a. 1,2 and 3.
Option b. 1 and 4.
Option c. 1,2, and 5.
Option d. 3,4, and 5.
Option e. 2,3 and 5.
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