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  2. Fair market value - Wikipedia

    en.wikipedia.org/wiki/Fair_market_value

    The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies.

  3. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    Under Treasury regulation §1.1031(k)-1(c)(5)(i), property that is transferred together with the larger item of value that does not exceed 15% of the fair market value of the larger property does not need to be identified within the 45-day identification period, but still needs to be exchanged for like kind property to defer gain.

  4. Fair market value: What it is, how it’s calculated - AOL

    www.aol.com/finance/fair-market-value-calculated...

    A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market. Many factors go into determining it, including location, size, age, condition and the ...

  5. Like-kind exchange - Wikipedia

    en.wikipedia.org/wiki/Like-kind_exchange

    A like-kind exchange under United States tax law, also known as a 1031 exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset. A like-kind exchange can involve the exchange of one ...

  6. Find Out If You Can Really Write Off That Holiday Donation

    www.aol.com/really-write-off-holiday-donation...

    According to the IRS, fair market value is “what a willing buyer would pay a willing seller when neither has to buy or sell and both are aware of the conditions of the sale.” The IRS doesn’t ...

  7. Cost basis - Wikipedia

    en.wikipedia.org/wiki/Cost_basis

    The general rule does not apply, however, if at the time of transfer the donor's adjusted basis in the property exceeds its fair market value and the recipient disposes of the property at a loss. In this situation the asset's basis is its fair market value at the time of transfer. See Treas. Reg. § 1.1015-1(a)(1).

  8. Offer in compromise - Wikipedia

    en.wikipedia.org/wiki/Offer_in_compromise

    Net realizable equity in assets is the quick-sale value of the asset (often 80% of fair market value) minus any liabilities secured by the asset (e.g., a loan). As an example, if a taxpayer has a home worth $100,000 and owes $50,000 on the home, the IRS will calculate the net realizable equity in the asset as: ($100,000 x .80) - $50,000 = $30,000.

  9. Internal Revenue Code section 132(a) - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...

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