Ian Bryzek, CPA
Residential appraisal versus business value boundary
A residential fair-market-value appraisal does not value a business interest—even if the business operates from a house.
James's residential work can support the home's FMV for tax basis when relevant; entity goodwill and business assets need other professionals.
Mixing the two numbers in one schedule without labels creates unsupported tax positions.
What to keep with the file
Mixing the two numbers in one schedule without labels creates unsupported tax positions.
What to do next
Separate the residential FMV file from the business valuation file on the first day.
What to gather
- Residential appraisal if a home is involved
- Business financial statements
- List of business assets versus personal residence
- Business valuation report if obtained
- Clear schedule separating house FMV from business value
Who usually handles what
- Ian can organize the tax reporting question and the supporting records.
- James Valdez can provide an independent residential fair-market-value appraisal when a supported property value is part of the documentation.
- The executor, trustee, or account custodian supplies records and confirms who has authority to act.
A practical next step
Separate the residential FMV file from the business valuation file on the first day.
When a property value is part of the picture
When residential real estate needs a supported fair market value as of a relevant date, an independent appraiser may be part of the documentation process. Ian does not determine fair market value.
Related guides
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.