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On the other hand, Market Value takes into account the more specific circumstances of a sale, and is used for the intention of liquidation. Similar to Fair Market Value, Market Value uses a salescomparisonapproach of recent, actualized sales to determine the value.
This quote is in the context of IRS Publication 561, which provides guidance for determining fair market value for charitabledonations; therefore, this quote must be understood within that specific context and intended use. This is because we use different approaches for determining fair market value and replacement value.
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