Mandy and Hal (mother and son) purchased land for $700,000 as joint tenants with right of survivorship. Of the $700,000 purchase price, Mandy provided $400,000 and Hal $300,000 (of which $200,000 had been received as a gift from Mandy). Hal dies first when the land is worth $4,000,000. As to the land, Hal's gross estate must include:
$100,000.
$571,428
$2,000,000
$1,714,286