At his death Stanley owned real estate worth $393,240 with two other individuals as equal tenants in common. Stanley contributed $58,000 to the $116,000 total cost of the property. What amount, if any, is included in Stanley's gross estate?

Question

Quizplus · Accepted Answer

As a tenant in common, Stanley only owns a proportionate share of the property. His share would be $58,000/$116,000 = 0.5 or 50%. Therefore, only 50% of the value of the property is included in his gross estate. 50% of $393,240 is $196,620, which is the correct answer.

At His Death Stanley Owned Real Estate Worth $393,240 with Two