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View Full Version : Need Fair Market Value from 2007


paloma354
Jul 12, 2009, 02:37 PM
My mother gave me a quit deed to her house (which is on my land with my own house) in October 2007. Now I'm trying to sell my entire property and found out that the IRS will want the Fair Market Value from that date on my mom's house whenever I sell and file taxes.

My realtor has told me that's too long ago for him to get the Fair Market Value. Does anyone know how else I could determine the FMV on the house from nearly 2 years ago?

Any suggestions would be greatly appreciated.

ROLCAM
Jul 12, 2009, 06:59 PM
1) Obtain Today's Market Value from a reputable valuer.
2) From the Official Statistics Handbook
obtain the Housing Valuation Index preferably
a momthly Index.
3) Use these facts to Calculate the Value.
It is a very simple procedure.