Examlex
When using decision trees, branches with the greatest expected value are selected.
Adjusted Basis
The original cost of property plus any improvements, or minus depreciation or losses, used to calculate capital gains or losses for tax purposes.
FMV
Fair Market Value, the price at which property would sell between a willing buyer and seller in an arm's length transaction.
Gift Tax
A federal tax on the transfer of property by gift from one individual to another with the donor being primarily responsible for paying the tax.
FMV
Fair Market Value, an estimation of the market value of a property or asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.
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