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Reply to "Tax question: determining fair market value for inherited property "
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[quote=Anonymous][quote=Anonymous]Shouldn't you have asked this question in 2009?[/quote] My guess is the OP was preoccupied with other things at the time and that 'let me figure out fair market value now so I can determine my taxes when I sell in 4 years' wasn't high on the list. As to your question OP - I imagine the best route would be to get an honest fair market value at the time of death, rather than using tax assessments which are often below market. And while I haven't done this, it seems the best path to getting such a value would be to use a comparative assessment against homes in the neighborhood that sold near the time of death. Best of luck to you.[/quote]
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