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fair market value |
Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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Thus protected, the LLC successfully sold the property at fair market value after agreeing to assign the insurance policy to the new owner. A taxpayer may deduct the fair market value of an auto if the charity intends to make "significant intervening use of or "material improvement to" the car. You will need to find the fair market value of the home and the farmland—both their actual value and rental value. |
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