You'll need to sign in or create an account to connect with an expert.
The Fair Market Value of the automobile is $32,000.
Fair market value is defined as "the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts."
To determine your property's fair market value, in your situation, is the price the willing buyer paid for the automobile.
The Fair Market Value of the automobile is $32,000.
Fair market value is defined as "the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts."
To determine your property's fair market value, in your situation, is the price the willing buyer paid for the automobile.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
sherry_maike
New Member
westmom2384
New Member
george0707
New Member
mpapadop
Level 1
freddytax
Level 3