In 2017, Homer and his wife, Wilma (residents of a non€“ community property state) make the gifts listed below. Homer€™s previous taxable gifts consist of $100,000 made in 1975 and $1.4 million made in 1996. Wilma has made no previous taxable gifts.

a. What are the gift tax liabilities of Homer and Wilma for 2017 if they elect gift splitting and everyone except Norma receives a present interest?

b. How would the gift tax liabilities for each spouse in Part a change if they do not elect gift splitting?

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Wilma's current year gifts were to Art to Bart Homer's current year gifts were $400,000 6,000 to Linda $600,000 to a charitable organization to Norma (future interest) 200,000