topic My car was totaled during hurricane Harvey. How do you determine fair market value in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-car-was-totaled-during-hurricane-harvey-how-do-you-determine-fair-market-value/01/447660#M57220 Tue, 04 Jun 2019 22:45:07 GMT baronman 2019-06-04T22:45:07Z My car was totaled during hurricane Harvey. How do you determine fair market value https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-car-was-totaled-during-hurricane-harvey-how-do-you-determine-fair-market-value/01/447660#M57220 Tue, 04 Jun 2019 22:45:07 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-car-was-totaled-during-hurricane-harvey-how-do-you-determine-fair-market-value/01/447660#M57220 baronman 2019-06-04T22:45:07Z Use this IRS definition: "Fair Market Value is the price... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/use-this-irs-definition-fair-market-value-is-the-price/01/447669#M57221 <P>Use this IRS definition: "Fair Market Value is the price a willing, knowledgeable buyer would pay a willing, knowledgeable seller when neither has to buy or sell.<BR /></P><P>One possible way is Kelly Blue Book to determine the "before". After it would be zero as it is destroyed.</P> Tue, 04 Jun 2019 22:45:08 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/use-this-irs-definition-fair-market-value-is-the-price/01/447669#M57221 Coleen3 2019-06-04T22:45:08Z Sites such as edmunds.com and kelley blue book will give... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/sites-such-as-edmunds-com-and-kelley-blue-book-will-give/01/447680#M57222 <P>Sites such as edmunds.com and kelley blue book will give that information.</P> Tue, 04 Jun 2019 22:45:11 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/sites-such-as-edmunds-com-and-kelley-blue-book-will-give/01/447680#M57222 Bsch4477 2019-06-04T22:45:11Z