InstantForum.NET v4.1.4California Society of CPAshttp://forums.calcpa.org/forums@calcpa.orgWed, 16 May 2012 17:38:38 GMT20http://forums.calcpa.org/Topic12-2-1.aspxThe appraiser should be valuing the economic interest in the property to determine the FMV, which is not impacted by the mortgage. </P><P>For estate tax reporting, the FMV, which would have included any discount, will then be reduced by the mortgage to arrive at the net assets to be taxed. </P><P>These are really two different issues.Fri, 16 Dec 2005 13:37:17 GMTArchivedhttp://forums.calcpa.org/Topic12-2-1.aspxFor a discount for partial ownership of real property - - </P><P>I'm wondering if a percentage discount should be applied to the share of gross value of the property, or to the net after mortgage balance. </P><P>Seems to me the discount should apply to the share of gross, and then subtract the share of mortgage debt from the discounted value. </P><P>But one appraiser says that's wrong, the discount should come after subtracting the mortgage.Fri, 16 Dec 2005 13:36:43 GMTArchived