Anne owned a home with her sister as joint tenants with righ

Anne owned a home with her sister as joint tenants with rights of survivorship. The home was inherited by Annne and her sister from their mother. Anne died and is survived by her sister. Which of the following atatements is correct?

a. the full value of the home must be included on Part 2 of Schedule E minus any consideration that the sister has furnished (and can prove)

b. the full value of the home must be included on Part 2 of Schedule E regardless of any consideration the sister has furnished

c. one-half of the value of the home must be included on Part 2 of Schedule E

d. one-half of the value of the home must be included on Part 2 of Schedule A

Solution

Solution: one-half of the value of the home must be included on Part 2 of Schedule A

Explanation: Since Ann died and is survived by her sister thus only one-half qualifies to be included on Part 2 of Schedule A