IRSs Revenue Ruling 59-60 states that fair market value is: d. Price at which property...

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IRSs Revenue Ruling 59-60 states that fair market value is: d. Price at which property would change hands between buyer and seller that is fair value. Price at which property would change hands that is the best possible price. Price at which property would change hands between willing buyer and willing seller. Price at which property would change hands between buyer and seller under no compunction.

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