Sentences with phrase «place at fair market value»

The sale to your RRSP must take place at fair market value or you will be deemed to have made a contribution to your RRSP.

Sales or gifts of assets to family members generally take place at fair market value, so using an artificially low value is not a viable way to reduce or eliminate a capital gain.

If one family member transfers capital assets like stocks to another family member, except for an inter-spousal transfer, the transaction is deemed to take place at fair market value.

This will create a tax issue since you'll be deemed to have sold the place at fair market value at the time you transfer ownership.

Competitive bidding ensures that properties are placed at fair market value.

Not exact matches

A sale of property to a family member or someone who you are not dealing with at «arm's length» generally takes place — for tax purposes — at fair market value.

This will generally take place at its original cost, unless you make a special election to transfer it at a value between the cost and the fair market value.

If the transfer takes place at a price above cost, (but less than fair market value) the capital gains exemption can be utilized up to a maximum lifetime amount of $ 750,000 per transferor.

As of 2014, their public filings placed the combined fair - market value of the artworks at about $ 2.5 billion.

Together they lend the 12,000 - piece collection to the museum; their public filings place the combined fair - market value of the artworks at about $ 2.5 billion.

Howard and Jeanette acted improperly, the Court found, when they agreed to sell the estate's principal asset (the family farm) to their brother Frank for $ 300,000, despite an appraisal which placed the fair market value at $ 450,000.