Greta and Greg were married for 15 years and have a daughter, Elise. Soon after they were married, they bought their first home for $100,000. Last year Greg was killed in a car accident. In his will, he left everything to his daughter Elise. The value of the home when Greg died was $800,000. Please fill in the last column of the chart.

	Assume that they do not live in a community property state, Greta contributed $25,000 and Greg contributed $75,000 to the original purchase of the house, and that the house was titled Tenants in Common.	Assume that they do not live in a community property state, that Greta contributed $25,000 and Greg contributed $75,000 to the original purchase of the house, and the house was titled Tenancy by the Entirety.	Assume that they LIVE IN WISCONSIN, A COMMUNITY PROPERTY STATE, and purchased the house with community funds.	Assume that they LIVE IN WISCONSIN, A COMMUNITY PROPERTY STATE, but Greg purchased the house with separate funds and titled the house Fee Simple Sole Owner.
	Tenants in Common	Tenancy by the Entirety	COMMUNITY PROPERTY STATE with community funds	COMMUNITY PROPERTY STATE separate funds Sole Owner
Amount in Greg's Gross Estate	$600,000	$400,000	$400,000
Amount in Greg's Probate Estate	$600,000	$0	$400,000
Who receives Greg’s ownership stake?	Elise	Greta	Elise
Greta's tax basis in the house after Greg’s death	$25,000	$450,000	$400,000
Elise's tax basis in the house after Greg’s death	$600,000	N/A	$400,000

Answer rating: 100% (QA)

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