If you have necrotic resistance and cast Life Transference, do…

If you have necrotic resistance and cast Life Transference, do you only take half damage and thus heal your target for twice the halved damage?

@JeremyECrawford If you have necrotic resistance (e.g. lv10 Necro Wizard) and cast life transference, do you only take half damage and thus heal your target for twice the halved damage?