Does "fair market value of your rental property" mean the rent you charge or the value of the property as a whole if you were to sell it?
Fair market value of your rental property refers to the amount of rent you charge. Are you charging the "going rate" for a similar property in the same area? Or are you charging less than market, perhaps because the tenant is a relative or a friend.
Does "fair market value of your rental property" mean the rent you charge or the value of the property as a whole if you were to sell it?
Fair market value of your rental property refers to the amount of rent you charge. Are you charging the "going rate" for a similar property in the same area? Or are you charging less than market, perhaps because the tenant is a relative or a friend.
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