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(TCO 9) Harold and Iris are married and live in Maine. In 1990, they purchased realty for $100,000

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(TCO 9) Harold and Iris are married and live in Maine. In 1990, they purchased realty for $100,000 (Iris

provided $80,000 and Harold $20,000) and listed ownership as joint tenants with right of survivorship. In the current year, Harold dies first when the realty is worth $500,000. Which is one result of these events? (Points : 5)

        Harold’s gross estate includes $250,000.
Harold’s gross estate includes $100,000.
Harold’s gross estate includes $400,000.
In 1990, Iris made a gift to Harold of $60,000.
None of the above

 
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