American College Exam HS330 Topic 1 Question 7 Discussion

Actual exam question for American College's HS330 exam

Question #: 7
Topic #: 1

All the following statements concerning real properly ownership by married couples as joint tenants with right of survivorship are correct EXCEPT:

AThe deceased spouse's interest in the properly qualifies for the marital deduction since it passes outright to the surviving spouse.

BAll benefits of ownership remain available to the surviving spouse without interruption during the administration of the deceased spouse's estate.

CJointly held property between spouses does not pass through the probate estate of the first spouse to die.

DIn common-law states the total value of the properly receives a stepped-up tax basis in the estate of the first spouse to die.

Show Suggested Answer

Suggested Answer: D

by Christiane at May 06, 2022, 06:55 AM

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