Using property she inherited, Lei makes a $2022$ 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 $2022$ is $$12,060,000.$

If an amount is zero, enter $"0".$

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a$.$ If the election to split gifts is not made, the taxable gift is $fill in the blank $037341069$f$8$ffa$3\_1$

$0$

and gift tax due on the gift is $fill in the blank $037341069$f$8$ffa$3\_2$

$0$

$.$

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Married donors residing in community property jurisdictions possessed a significant gift tax advantage over those residing in common law states. 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.

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b$.$ If the election to split gifts is made, then the taxable gift from Lei is $fill in the blank $6$cc$426$f$9$c$025$fee$\_1$

$0$

and from Greg is $fill in the blank $6$cc$426$f$9$c$025$fee$\_2$

$0$

$.$ Gift tax due from Lei is $fill in the blank $6$cc$426$f$9$c$025$fee$\_3$

$0$

and from Greg is $fill in the blank $6$cc$426$f$9$c$025$fee$\_4$

$0$

$.$

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