Cost basis of jointly owned stocks & real estate on death

[curiousgeorge]

What is the cost basis of jointly owned (JTWROS) stocks and property that is passed on to second  owner upon death of the first?

And a second question please.  How about if stocks and property are not owned jointly. What is the cost basis for the inheritor?

Thanks much.

[Value Buy]

Do not know the answer about the first question. I would think since they are jointly owned, it remains the original cost basis from day of original purchase.
Second question ....I believe the date of death of the original owner sets the cost basis price on the stock question.
On property, I am not sure. I assume you need a new appraisal, and that might take quite a bit of time considering the actual reading of the will and the implementation of the request, plus is anything in a trust?

[endofera]

Half of the asset value is stepped up to market value at the date of death.