In a Common Law State, Jointly Owned Property Left to the Surviving

question 140

Multiple Choice

In a common law state, jointly owned property left to the surviving spouse will have a basis after the estate is settled equal to

• A) half of the fair market value of the entire property at the date of death (the alternative valuation date was not elected).
• B) the decedent's basis before death.
• C) the total fair market value of the entire property at the date of death (the alternative valuation date was not elected).
• D) half of the basis just before death, plus half of the fair market value at the date of death (the alternative valuation date was not elected).

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