Using property she inherited, Lei makes a 2023 gift of $16,200,000 to her adult daughter, Doris. Neither Lei nor her spouse, Greg, have made any prior taxable gifts. Assuming that a flat 40% tax rate applies, determine the Federal gift tax liability if (a) the election to split gifts is not made and (b) the election to split gifts is made. (c) What are the tax savings from making the election? The unified transfer tax exclusion amount for 2023 is $12,920,000. If an amount is zero, enter "0". a. If the election to split gifts is not made, the taxable gift is $ Feedback Y Check My Work and gift tax due on the gift is $ Married donors residing in community property jurisdictions possessed a significant gift tax advantage over those residing in common law stat- To rectify this inequity, Section 2513 was enacted. Per 2513, a gift made by a person to someone other than their spouse may be considered for Federal gift tax purposes, as having been made one-half by each spouse. b. If the election to split gifts is made, then the taxable gift from Lei is tax due from Lei is s Feedback Check My Wirk Partially correct 0and from Greg is t c. The tax savings from making the election is Feedback x and from Greg is Gift 0