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how do I determine FMV for properties inherited in Oct. 2020 - then sold in 2021?
3 condo/apartments - all investment properties - supposed to use date inherited (October 2020) to determine value of each..
planning to use tax assessed value for 2021 or possibly an average of 2019, 2020, 2021 - or maybe just average of 2020-21
is there a best way to determine FMV?
title transferred at sale to new buyers - never assumed ownership, HOA dues, mortgage payments, etc. at the time inherited.
sales were in May, July, and November 2021 - received Form 1099-S for each property - no K-1's
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‎April 15, 2022
8:28 PM