Question: Which of the following qualifies as a deductible gift that gives away only part of the donor's ownership interests? I. A gift of farmland where the donor retains the right to later place a limited number of billboard signs or wind turbines on the property II. An undivided 15% ownership in farmland given by a donor where the donor retains all underlying mineral rights to the farmland III. An undivided 15% ownership right in a condominium owned by the donor where the donor has never resided, but has used exclusively as rental property IV. A gift of the use of a time share interest for ten years V. A gift of the reproduction rights to a work of art where the donor never owned any rights in the art other than the reproduction rights 1. II 2. III 3. II & III 4. III & IV 5. None of the above