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" The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts. "
Reports of the United States Tax Court - Page 264
by United States. Tax Court - 1992
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Cases Decided in the United States Court of Claims ... with ..., Volume 152

United States. Court of Claims, Audrey Bernhardt - 1963 - 938 pages
...the use of a formula different from the well-established formula for determining fair market value. Fair market value is the price at which property would change hands between a willing seller and a willing buyer, neither being under any compulsion to buy or sell. Again we agree with...
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Cases Decided in the Court of Claims of the United States, Volume 103

United States. Court of Claims - 1946 - 906 pages
...value. It said "The value of property is the price at which such property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell." This meaning of value is used for all sorts of legal purposes, such as -direct property taxes, excise...
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Regulations 67 Relating to Gift Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 76 pages
...fair .market value thereof at the date of the gift shall be considered the amount of the gift. The fair market value is the price at which property would...buyer and a willing seller, neither being under any compulsion to buy or to sell. Where the property is sold within a reasonable period after the gift,...
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A Treatise on the Law of Inheritance Taxation and the Federal Estate and ...

Lafayette Blanchard Gleason, Alexander Otis - 1925 - 1550 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...buyer and a willing seller, neither being under any compulsion to buy or to sell. Where §hown that the selling price reflects the fair market value thereof...
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Inheritance and Estate Taxes

Paul Whittier Pinkerton, Jefferson Humphrey Millsaps - 1926 - 1082 pages
...indudable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...buyer and a willing seller, neither being under any compulsion to buy or to sell. « « » Neither depreciation nor appreciation in value subsequent to...
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Cases on Federal Taxation, Volume 1

Joseph Henry Beale, Roswell Foster Magill - 1926 - 744 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...buyer and a willing seller, neither being under any compulsion to buy or to sell. Where the property is sold within a reasonable period after the decedent's...
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Regulations 70 Relating to Estate Tax Under the Revenue Act of 1926 as ...

United States. Internal Revenue Service - 1929 - 176 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...buyer and a willing seller, neither being under any compulsion to buy or to sell. Where the property is sold within a reasonable period after the decedent's...
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Reports of the Joint Committee on Internal ..., Volumes 1-2; Volumes 8-11

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 626 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...neither being under any compulsion to buy or sell. When property is sold within a reasonable period after decedent's death, and it is shown that the selling...
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Double Taxation: Preliminary Report of a Subcommittee... Relative to Federal ...

United States. Congress. House. Committee on Ways and Means - 1933 - 348 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...neither being under any compulsion to buy or sell. When property is sold within a reasonable period after decedent's death, and it is shown that the selling...
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Double Taxation: Preliminary Report of a Subcommittee of the Committee on ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1933 - 348 pages
...includable in the gross estate is the fair market value thereof at the time of the decedent's death. The fair market value is the price at which property would...neither being under any compulsion to buy or sell. When property is sold within a reasonable period after decedent's death, and it is shown that the selling...
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