turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

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.

View solution in original post

1 Reply
DDollar
Expert Alumni

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.

Manage cookies