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FMV is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with Publication 561 (12/2024), Determining the Value of Donated Registered charities must usually deduct the FMV of any advantages from the FMV of gifts to determine if there is an eligible amount of a gift for receipting

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Fair market value is the price at which a buyer and seller are willing to exchange a good. If certain conditions are met, an item's Fair market value (FMV) is the estimated price an asset would sell for in the current market under normal conditions. How To Calculate Fair Market Value Of Property In 2001? - CountyOffice.org

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