T, who never married nor made any prior inter vivos gifts, made taxable gifts of $6 million in 2013. t dies in the current year, leaving a taxable estate of $5 million. in 2002, g created a trust, the income to be paid to g's child t (our same good old t) for life, remainder to t's child r. (don't worry about g who is not part of the problem). at t's death in the current year, the remainder interest of the trust corpus, valued at $4 million, was paid over to r. determine the estate tax payable on t's death in the current year, using the sec. 2001 computation and the section 2010 applicable credit amount disregarding inflation adjustments to the applicable exclusion amount. show all calculations.

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.