In 2021, Amanda establishes an irrevocable trust for the benefit of her four sons as equal beneficiaries. Amanda contributes $20,000 to the trust in 2021, and she plans to contribute the same amount each year going forward. The trust provides that each son has the right, during a 30-day period each year, to withdraw the lesser of the gift tax annual exclusion amount or 25% of the annual trust contribution. Her sons do not exercise the right of withdrawal during 2021. Which of the following statements regarding the transfer tax consequences of this arrangement is(are) CORRECT?

1. Amanda's gift to the trust in 2021 is eligible for the annual exclusion because each son has a right to make a withdrawal from the trust.
2. Each son has made a taxable gift to the other in 2021.
3. All of the sons must file gift tax returns for 2021.

		None of these statements is correct.
		2 and 3
		1, 2, and 3
		1 only