Is 50% or 100% of the basis in a principal residence "stepped up" upon death of one of the spouses?

I read an article in this week's Barron's that indicated that, for investments made jointly by spouses prior to 1977, upon death of one of the spouses the basis is stepped up on 100%, not 50%, of the investment. i.e. for a principal residence purchased prior to 1977 by a husband and wife for $100,000 and worth $500,000 upon the death of the husband, the basis is stepped up to $500,000 (the value at the death of the husband), not $300,000 (the husband's 50% at the market value of $500,000 plus the wife's 50% at the original basis of $100,000).

If this is correct, please direct me to a third-party source (e.g IRS code or ruling) documenting the details.

There are some court cases ruling that if the property were held jointly, and purchased prior to 1977, a 100% step-up in basis applies. See the attached articles...

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