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Is it necessary to secure a formal appraisal of my labor organizations assets to complete Column (E) of Schedule 6?

April 26, 2017appraisal assets column COMPLETE formal labor necessary organization Secure

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Is it necessary to secure a formal appraisal of my labor organizations assets to complete Column (E) of Schedule 6?

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A. No. It is not necessary to secure a formal appraisal of the assets; a good faith estimate is sufficient. The value used for insurance purposes or for tax appraisals, for example, will normally be acceptable as representing the fair market value.