Question: Using property she inherited, Myrna makes a 2019 gift of $16,200,000 to her adult daughter, Doris. Neither Myrna nor her husband, Greg, has made any prior taxable gifts.
Assuming that a flat 40% tax rate applies.
The unified transfer credit exclusion for 2019 is $11,400,000.
Required: What is the gift tax due if there is no split made?