Does Fair Market Value refers to total value of the rental property or what you rent the house out for monthly?

 
TomD8
Level 15

Investors & landlords

It depends on what you're talking about.  See this previous TT answer:  https://ttlc.intuit.com/questions/2979711-when-entering-fair-market-value-for-a-rental-is-it-entered...

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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