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<font face="Times New Roman, Times, serif">As I recall, subsections
(2) and (3) were added in 1988 to <a moz-do-not-send="true"
href="https://app.leg.wa.gov/RCW/default.aspx?cite=64.28.020">RCW
64.28.020</a> -- stating that property held by spouses as JTWROS
is presumed community property -- to thwart the IRS that had been
challenging the step-up in basis by asserting that JTWROS property
was not community property. I believe the IRS acquiesed to this
state law provision thereafter.<br>
<br>
Doug Schafer, in Tacoma.<br>
</font><br>
<div class="moz-cite-prefix">On 7/1/2021 14:43,
<a class="moz-txt-link-abbreviated" href="mailto:Jeff@bellanddavispllc.com">Jeff@bellanddavispllc.com</a> wrote:<br>
</div>
<blockquote type="cite"
cite="mid:055c01d76ec2$17ca3e80$475ebb80$@bellanddavispllc.com">
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<div class="WordSection1">
<p class="MsoNormal">Thanks Bryce!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jeff<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal"><b><span
style="font-family:"Tahoma",sans-serif">W.
Jeff Davis<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">BELL
& DAVIS PLLC</span></b><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black"><br>
P.O. Box 510<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">720
E. Washington Street, Suite 105<br>
Sequim WA 98382<br>
Phone: (360) 683.1129 <br>
Fax: (360) 683.1258 <br>
email: </span><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif"><a
href="mailto:jeff@bellanddavispllc.com"
moz-do-not-send="true">jeff@bellanddavispllc.com</a><span
style="color:black"><br>
</span></span><a href="http://www.bellanddavispllc.com/"
target="_blank" moz-do-not-send="true"><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue">www.bellanddavispllc.com</span></a><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black"><br>
<br>
The information contained in this e-mail message may be
privileged, confidential, and protected from disclosure.
If you are not the intended recipient, any dissemination,
distribution, or copying is strictly prohibited. If you
think that you have received this e-mail message in error,
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href="mailto:info@bellanddavispllc.com"
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style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">
or call 360.683.1129.</span><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><b><o:p> </o:p></b></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<div style="border:none;border-top:solid #E1E1E1
1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b>
<a class="moz-txt-link-abbreviated" href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>
<a class="moz-txt-link-rfc2396E" href="mailto:wsbapt-bounces@lists.wsbarppt.com"><wsbapt-bounces@lists.wsbarppt.com></a> <b>On Behalf Of
</b>Bryce Dille<br>
<b>Sent:</b> Thursday, July 1, 2021 10:23 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv
<a class="moz-txt-link-rfc2396E" href="mailto:wsbapt@lists.wsbarppt.com"><wsbapt@lists.wsbarppt.com></a><br>
<b>Subject:</b> Re: [WSBAPT] Husband and Wife holding
title to home as JTWROS and step up in basis<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">If held with
spouse get step up in basis on 100% of property whether held
in Jt tenancy or as community property or even if her
separate property and surviving spouse inherits it. However
if held with non spouse only get step up in basis as to
deceased Jt tenants interest<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="color:#1F497D">Bryce H.
Dille<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Dille Law,
PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">2010 Caton
Way SW Ste. 101<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Olympia, WA
98502<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Office:
360-350-0270<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Cell:
253-579-5561<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">** Please
note that I use the dictation feature of my iPhone and
that sometimes everything I say does not get properly
translated**<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">This
transmission contains confidential attorney-client
communications and may not be disclosed to any person but
the intended recipient(s). If this matter is transmitted
to you in error, please notify the sender immediately. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Business
Entity Creation and Management, Business, Government and
Tax Law, Real Estate and Land Use, Residential, Commercial
and Condominium Development Real Estate and Commercial
Transactions & Closings, Including Performing Services
as IRS Section 1031 Exchange Facilitator Estate Planning,
including Wills and Trusts, and Probate Administration
Representation Homeowners/Condominium Association Real
Estate Developments Real Property Foreclosures and
Forfeitures.<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #E1E1E1
1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a
href="mailto:wsbapt-bounces@lists.wsbarppt.com"
moz-do-not-send="true">wsbapt-bounces@lists.wsbarppt.com</a>
<<a href="mailto:wsbapt-bounces@lists.wsbarppt.com"
moz-do-not-send="true">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b><a
href="mailto:Jeff@bellanddavispllc.com"
moz-do-not-send="true">Jeff@bellanddavispllc.com</a><br>
<b>Sent:</b> Thursday, July 1, 2021 10:10 AM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <<a
href="mailto:wsbapt@lists.wsbarppt.com"
moz-do-not-send="true">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Husband and Wife holding title to
home as JTWROS and step up in basis<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Listmates, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Somewhere in my aged memory, I thought the
IRS had issued a ruling (which can’t be located) that where a
married couple held title to their home (or any real property)
as JTWROS, the survivor, on the death of the first spouse,
would get a 100% step-up in the cost basis equal to the
property’s FMV on the date of death. Does anyone else have
that understanding?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jeff Davis<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span
style="font-family:"Tahoma",sans-serif">W. Jeff
Davis<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">BELL
& DAVIS PLLC</span></b><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black"><br>
P.O. Box 510<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">720
E. Washington Street, Suite 105<br>
Sequim WA 98382<br>
Phone: (360) 683.1129 <br>
Fax: (360) 683.1258 <br>
email: </span><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif"><a
href="mailto:jeff@bellanddavispllc.com"
moz-do-not-send="true">jeff@bellanddavispllc.com</a><span
style="color:black"><br>
</span></span><a href="http://www.bellanddavispllc.com/"
target="_blank" moz-do-not-send="true"><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue">www.bellanddavispllc.com</span></a><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black"><br>
<br>
The information contained in this e-mail message may be
privileged, confidential, and protected from disclosure. If
you are not the intended recipient, any dissemination,
distribution, or copying is strictly prohibited. If you
think that you have received this e-mail message in error,
please e-mail the sender at </span><a
href="mailto:info@bellanddavispllc.com"
moz-do-not-send="true"><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue">info@bellanddavispllc.com</span></a><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">
or call 360.683.1129.</span><span
style="font-size:10.0pt;font-family:"Tahoma",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><b><o:p> </o:p></b></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<pre class="moz-quote-pre" wrap="">***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
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