FMV = the amount someone somewhere in the world might buy it for

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Nov 12, 2024
3:18:36pm

Odysseus Truly Addicted User

*This is not legal, tax, or financial advice

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Odysseus

Previous username: THUNDERDOME69
Bio page: Odysseus
Joined: Oct 28, 2014
Last login: Nov 13, 2024
Total posts: 34,656 (12,259 FO)

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Messages

Author

Time

If you win a charity auction, and the listed value is "Priceless," do you write

SalmonOfCapistrano

Nov 12, 3:14pm

Fair market value.

Blue Print

Nov 12, 3:16pm

We get a LOT of value out of it, but I think I agree with your conclusion

SalmonOfCapistrano

Nov 12, 3:17pm

The reasonable value

Cougar-Duck

Nov 12, 3:17pm

FMV = the amount someone somewhere in the world might buy it for

Odysseus

Nov 12, 3:18pm

Play audit roulette and write off double!

hitechcpa

Nov 12, 3:20pm

Dang. That is incredibly valuable. I’m really jealous. In fact, if you ever want

blackandblue

Nov 12, 3:22pm

no I think I'll keep it. Thanks for the written offer! Will come in handy!

SalmonOfCapistrano

Nov 12, 3:23pm

In that case, I double my offer. $10,000,000. It’s only fair.

blackandblue

Nov 12, 3:27pm

I can't brain today. Just now realizing that your original comment is bad for me

SalmonOfCapistrano

Nov 12, 3:29pm

I would advise you to accept his offer.

dratax

Nov 12, 3:56pm

btw, the reason this came up is I was curious if it was eligible for company

SalmonOfCapistrano

Nov 12, 3:56pm

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