Jack and Jill bought 1000 shares of Exxon/Mobile @ $50 per share for $50000

Stock split 2 for 1 – they now have 2000 shares @ $25 per share

The stock value is at 75 per share for a value of $150,000

Jill passes away

We took the 50k originally and split it 25k each

then we took the date of death stock price @ $65 x 2000 shares = $130,000.

we split the 130k to 65k each.

we then added Jack’s original basis of 25k plus the new step up of 65k (130k divided by 2) = $90,000

a. Am I correct that Jack’s new cost basis is 90k?

b. If he sold the 2000 shares for $150,000, he would take off the cost basis of 90k and would pay capital gains on $60,000, correct?

Thank you,
Douglas