sawyer exchanges a rental building that has an adjusted basis of $420,000 for investment land that has a fair market value of $600,000. in addition, sawyer receives $75,000 in cash.$100,000 and $520,000
What is market value?
The price at which an asset would trade in a competitive auction environment is known as its market value, or OMV. Despite the fact that these phrases have different meanings under various standards and can have variations in some situations, market value is frequently used interchangeably with open market value, fair value, and fair market value.
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