(Solution) - Determine which of the following 2014 annual gifts are subject -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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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 College for their daughter's 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.