Box 4. Fair Market Value (FMV) of Property
For a foreclosure, execution, or similar sale, enter the
FMV of the property. See Temporary Regulations section
1.6050J-1T, Q/A-32. Generally, the gross foreclosure bid
price is considered to be the FMV. If an abandonment or
voluntary conveyance to the lender in lieu of foreclosure
occurred and you placed an “X” in the checkbox in box 5,
enter the appraised value of the property. Otherwise,
make no entry in this box.
Then TT will take the box 4 amount into consideration.
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