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If gifts of $13,000 and $15,000 were made to 2 friends, which friend (if any) would be required to declare their gift as ordinary income on their 1040? Once the $5,250,000 lifetime exclusion is reached on gifts exceeding $14,000, is the gift tax rate 55% for the donor? Finally, if a lottery winner died and his only gift was property (via quit-claim deed) valued between $14,000 and $5,250,000, would there be any estate tax owed by anybody?