Robert and Diane,husband and Wife,live in Pennsylvania,a Common Law State

Multiple Choice

Robert and Diane,husband and wife,live in Pennsylvania,a common law state.They purchased land as joint tenants in 2012 for $300,000.In 2016,Diane dies and bequeaths her share of the land to Robert.The land has a fair market value of $450,000.What is Robert's adjusted basis for the land?

A) $300,000
B) $375,000
C) $450,000
D) $750,000
E) None of the above