My father-in-law inherited stock from his mother in 2003 (thus we stepped-up the cost basis to her date of death at that time).
He deposited/transferred the stock into a JTWROS ETrade account owned by himself and my mother-in-law. He passed away this year never having disposed of the inherited stock.
What will the step-up basis of the stock be a) 1/2 of stock to his date of death and the other 1/2 to his mother's date of death (which is his original basis); or b) all stepped-up to his date of death (we do NOT live in a community property state).
My thinking for b) is that the stock was not a joint asset paid for by himself and my mother-in-law and this should all be stepped-up to his date of death even though it resided in a JTWROS account?
