Yes. If you filled out one form 3520, then you write 1 on line 15 in part 1V of the 8938. For line 54C on the 3520, an appraisal would be best if you can get it. If you didn't, then you will need to rely on your best faith estimate if you are uncertain of the value of the property received.
8938 Instructions
3520 Instructions
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