Victor W. asked
I am working on a Form 706, Estate Tax Return for a decedent who owned a second home in Maryland. The Maryland home is going through the Probate process, and the Maryland Probate attorney indicated that Maryland uses the value from the Town's Assessor rather than appraisals. Is it acceptable to use this assessed value on a Form 706 and the RI-706, or should I obtain an appraisal to determine the fair market value?
March 21st, 2024
Jane G. answered
The assessed value used for tax purposes in Maryland does not equate to the fair market value requir...
March 21st, 2024
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