fair market value

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fair market value

n.
The price, as of a commodity or service, at which both buyers and sellers agree to do business.
References in periodicals archive ?
When a business combination is recorded using the purchase method, fair market values are used to record the acquisition.
1060 requires an allocation of the purchase price among the acquired assets, based on their respective fair market values (FMVs).
Specifically, the Senate version of the IRS Restructuring and Reform Act included a provision that would have modified section 357(c) by requiring the transferor, in the case of a transfer of any property subject to a non-recourse liability, to apportion the liability on the basis of the relative fair market values of all assets subject to the liability.
When the property is sold, the amount realized is prorated between the acquired property and the capital improvements on the basis of fair market values.
You may need to: * identify amortizable assets and fair market values in a purchase agreement to provide the proper tax treatment for individual assets; * buy or sell shares in the foundry to establish the value of a minority interest; * obtain financing or recapitalize business; stock valuation helps set collateral value for obtaining financing; * establish or update an employee stock ownership plan; (ESOP).
In the unlikely event that the IRS questions the values assigned to your donations, we will provide the IRS with direct documentation supporting the fair market values assigned by ItsDeductible, provided that you have used the applicable tax year ItsDeductible product.
RENT IS PERIODICALLY ADJUSTED TO FAIR MARKET VALUES MAY IMPLY
Nasdaq:INTU), makers of TurboTax tax preparation software, easily solves this problem by assigning accurate fair market values to donated items, helping customers maximize their charitable deductions so they can save more money.
Customers can use the software to quickly and easily obtain the fair market values of hundreds of commonly donated items -- including clothing, toys and household goods.
Annual property taxes paid on property assessed by the Board of Equalization are based on current fair market values.
We are confident that our customers will soon see the positive results of these improvements, which will help enhance our service to customers in providing fast, fair market values for commercial and recreational vehicles.