Ella and Emma are twin sisters who live in Louisiana and Mississippi, respectively. Ella is married to Frank, and Emma is married to Richard. Frank and Richard are killed in an auto accident in 2021 while returning from a sporting event. 

Ella and Frank jointly owned some farmland in Louisiana, a community property state (value of $940,000, cost of $450,000). Emma and Richard jointly owned some farmland in Mississippi, a common law state (value of $940,000, cost of $450,000). Assume that all of Frank’s and Richard’s property passes to their surviving wives. 

a. Calculate Ella’s basis in the land.

b. Calculate Emma’s basis in the land.

c. What causes the difference? Summarize your answer in a one-paragraph e-mail to your instructor.