That is correct as long as they were joint tenants with right of survivorship. If not, you would need to consult how state law handles it.
Qualified Joint Interest
Include one-half of the value of a qualified joint interest in the decedent's gross estate. It does not matter how much each spouse contributed to the purchase price. Also, it does not matter which spouse dies first.
A qualified joint interest is any interest in property held by married individuals as either of the following.
Tenants by the entirety, or
Joint tenants with right of survivorship if the married couple are the only joint tenants.
Basis. As the surviving spouse, your basis in property you owned with your spouse as a qualified joint interest is the cost of your half of the property with certain adjustments. Decrease the cost by any deductions allowed to you for depreciation and depletion. Increase the reduced cost by your basis in the half you inherited. Pub 551
