Also referred to as FMV, it is the value that an asset could sell for once it’s out in the general market. It represents the price of an asset when certain conditions are met: the parties involved are knowledgeable of all the facts, are free from any pressure to buy or sell, and have the right amount of time to make their decision.
Fair market value
Also referred to as FMV, it is the value that an asset could sell for once it’s out in the general market. It represents the price of an asset when certain conditions are met: the parties involved are knowledgeable of all the facts, are free from any pressure to buy or sell, and have the right amount of time to make their decision.
