[mdrobbin]

Can anyone help me out? I’m sure it’s something simple but I’m getting mixed up here. On REG NINJA Notes p. 55 under estate taxes, states under Joint Tenancy that if sister owns 25% of $100K property… when Sister dies, $25K goes to her estate.

On p. 126 it states under Joint Tenancy that, upon death, property goes to other Joint Tenants. So on p. 55, why wouldn’t the $25K go to the other Joint Tenant (Brother) instead of her estate?

What am I missing here? I need a fellow NINJA to talk some sense into me.

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[Anonymous]

Did you figure this out?? I'm having the same problem…so confused!

[noodles]

under joint tenancy, if the other tenant contributed something, then the FMV is prorated.

if the other tenant contributed nothing, then the entire FMV is included on the second decedent's estate.

[Author]

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