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February 2, 2025
Question

When providing the fair market value for my condo rental , do I provide today's current FMV or when I purchased?

  • February 2, 2025
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    February 2, 2025

    You will want to enter today's fair market rent.  If you do not charge current fair market prices for rent, the IRS may treat the property as a personal residence, which limits deductions.