What is the best method to determine fair rental value

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Question - What is the best method to determine fair rental value of a furnished parsonage home?

Have the taxpayer ask ministers in other cities what they use for fair rental value on their tax returns.

Have the taxpayer consult with a local realtor to establish a documented quote the first year, then add to that figure each year to account for inflation.

Use the housing allowance provided as fair rental value.

Have the taxpayer consult with a local realtor to establish a documented quote of the fair rental value each year.

Reference no: EM133020550

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