- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@bc-23 wrote:
Can we use the property tax assessor's value at the time of the gift as the Fair Market Value for a home that was gifted to my husband from his mom?
Yes, you can but the IRS can properly refuse to accept that valuation (and rightfully so).
An appraisal from a licensed real estate appraiser is typically what the IRS will accept in almost all instances.
‎June 8, 2022
2:44 PM
327 Views