At her death,Serena owned real estate worth $210,000 with her spouse in joint tenancy with the right of survivorship.Serena contributed $50,000 to the original cost of the property and her spouse contributed the remaining $100,000.What amount,if any,is included in Serena's gross estate?

Question

Quizplus · Accepted Answer

In joint tenancy with right of survivorship, the entire value of the property is included in the gross estate, except for the portion contributed by the surviving spouse. Serena contributed $50,000, so $105,000 (half of $210,000) is included in her gross estate.

At Her Death,Serena Owned Real Estate Worth $210,000 with Her