how to determine fair market value of sold house for irs

Profile picture for nelson1813
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

January 04 2010 - Antigo
 Share
 RSS
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (2)

Profile picture for Brian French

For IRS purposes the Fair Market Value (FMV) on your latest assessment is recognized and acceptable to them.  Remember that if you are using this value for depreciation purposes, then you will need to deduct the value of the land.  The IRS will also accept a sales value if it is "at arms length"  (not to a family member)

Let me know why you (the IRS) needs this info and maybe I can narrow the answer more

  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

August 14 2010
Profile picture for jeremyrynders
You would probably need the assistance of a Realtor or Appraiser. A good Realtor should help you for free. If it was in the Milwaukee area I would help you but we don't have access to Antigo's MLS info.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

1Yes

January 04 2010
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion
Related Questions
Profile picture for Brian French
Questionhow to determine fair market value of sold house for irs
  • Latest answer by Brian French
  • August 14 2010
Related Articles
GuidePhoto Uploading Tips
GuideHow to Find a Rental on Zillow
GuideHow to Pre-Market a Home
GuidePicking the Best Comps
GuideMortgage Home Page Headline
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy