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In 1988, Triton and Ariel (father and daughter) purchased real estate for $500,000, listing the title as Triton and Ariel, joint tenants with right of
In 1988, Triton and Ariel (father and daughter) purchased real estate for $500,000, listing the title as Triton and Ariel, joint tenants with right of survivorship. Of the purchase price, Triton furnished $400,000 and Ariel furnished $100,000. If Triton dies first in the current year when the property is worth $1,000,000, his gross estate must include:
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$0
$500,000
$600,000
$800,000
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