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Investors & landlords
@Carl wrote:Keep in mind also, that while an appraisal may be the best way to go, it's definitely not the only way by far.
Congress and the IRS do a fairly decent job of keeping the law, regulations, and rules in mind and, with regard to the "best way to go", a qualified appraisal is one which will be accepted by the IRS typically without question; that may not be the case with other methods of valuation.
Regardless, when you preface a sentence with "generally", what follows should be the general rule and the general rule is that a two-year appraisal will not suffice if the return is examined.
‎August 10, 2021
12:14 PM