My car was totaled during hurricane Harvey. How do you determine fair market value

[Coleen3 · Accepted solution]

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.

One possible way is Kelly Blue Book to determine the "before". After it would be zero as it is destroyed.

[Bsch4477]

Sites such as edmunds.com and kelley blue book will give that information.