Three years ago, Jack and Mary, having been married for 3 years, agreed to purchase some real property and titled it as joint tenants with right of survivorship. At the time of the purchase, Mary did not have any cash, so Jack paid the $50,000 purchase price himself. Over the next five years, Jack and Mary allocated the income and expenses of the property equally, and luckily for them the value of the property increased to $350,000. If Jack dies this year, how much will his executor include in his federal gross estate as the value of this real property

$150,000

Explanation:

Purchase price $50,000

Value of the property after five years. $350000

the value of this real property

$350000 - $50,000

= $300,000

Because it was jointly owned by him and his wife we divide by 2

$300,000 /2

$150,000.

Value of his real property is $150,000

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright