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In 1992, Daniel and Mia Acquire Realty for $2 Million

Question 126

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In 1992, Daniel and Mia acquire realty for $2 million, with Daniel furnishing $1.5 million of the purchase price and Mia providing the balance. Title to the property is listed as: "Daniel and Mia, joint tenants with right of survivorship." In 2013, Mia dies first when the realty is worth $4 million. How much is included in her gross estate under the following circumstances?
a. Daniel and Mia are brother and sister.
b. Daniel and Mia are husband and wife.

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a. $1,000,000. (25% ...

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