Ben and Jennifer, who are married, own their home together as community property in Texas. They purchased the home 16 years ago for $165,000. After many improvements and a surge in the market, the home is now worth $950,000.
Question 23: If Ben died today, can he give his share of the house to his daughter Violet? Why?
Question 24: If Ben died today and left his share of the home to his daughter
Violet, what is Violet’s basis in the home? Why?
Question 25: If Ben died today and left his share of the home to his daughter
Violet, what is Jennifer’s basis in the home? Why?