Sale of Business Property

Fair market value - Sale of business property

Fair market value (FMV) is the price at which the property would change hands between a buyer and a seller when both have reasonable knowledge of all the necessary facts and neither has to buy or sell. If parties with adverse interests place a value on property in an arm's-length transaction, that is strong evidence of FMV. If there is a stated price for services, this price is treated as the FMV unless there is evidence to the contrary.

Need Professional Help?

If you need help with "Sale of Business Property" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.