In 1997, Barry and Fred Provide $20,000 and $60,000 of Consideration

question 96

Essay

In 1997, Barry and Fred provide $20,000 and $60,000 of consideration, respectively, to purchase a beach house titled in both their names as joint tenants with right of survivorship. Barry dies in the current year and is survived by Fred. The beach house is valued at $100,000. What amount must be included in Barry's gross estate for the beach house?

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