3. Billy wants to gift money to his son and daughter. He sets up the following gifting plan.

1. Assume no gift splitting and fill out column c.

A B. C. D.

Year Amount gifted Amount subject Amount subject

To each Child to gift tax (no gift splitting) to gift tax with gift splitting

2020 $17,000 each

b. Now assume Billy uses gift splitting with his wife how much will be subject to gift tax (fill out column D)?