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In 2000, Russell and Katie (father and daughter) acquire real estate listing title as: Russell and Katie, joint tenants with the right of survivorship. Of the $200,000 purchase price, $60,000 was furnished by Russell and $140,000 by Katie. The $140,000 Katie provided had been received by her as an inheritance from her mother. In the current year, Katie predeceases Russell at a time when the property is worth $500,000. What does Katie's gross estate include as to this property?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M965139

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