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provided that the gross estate includes the value of all property
held at the time of a decedent's death by the decedent and
another person in a joint tenancy or tenancy by the entirety,
except such part of the entire value that is attributable to the
amount of consideration in money or money's worth furnished by
such other person. Thus, the rule established a "contribution
test", whereby the estate of the deceased joint tenant must
generally include the value of the entire property less the
portion of the property attributable to the consideration
furnished by the surviving joint tenant. The statute creates a
rebuttable presumption that the value of the entire property is
includable in the deceased joint tenant's estate, and the burden
5(...continued)
thereof as may be shown to have originally belonged to
such other person and never to have been received or
acquired by the latter from the decedent for less than
an adequate and full consideration in money or money's
worth: Provided, That where such property or any part
thereof, or part of the consideration with which such
property was acquired, is shown to have been at any
time acquired by such other person from the decedent
for less than an adequate and full consideration in
money or money's worth, there shall be excepted only
such part of the value of such property as is
proportionate to the consideration furnished by such
other person: Provided further, That where any
property has been acquired by gift, bequest, devise, or
inheritance, as a tenancy by the entirety by the
decedent and spouse, then to the extent of one-half of
the value thereof, or, where so acquired by the
decedent and any other person as joint tenants and
their interests are not otherwise specified or fixed by
law, then to the extent of the value of a fractional
part to be determined by dividing the value of the
property by the number of joint tenants.
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