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Federal Register / Vol. 68, No. 242 / Wednesday, December 17, 2003 / Rules and RegulationsDEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 602 TD 9099 IN 1545BA78Disclosure of
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01
To fill out the disclosure of relative values, follow these steps:
02
Begin by gathering all relevant financial information for yourself and your relatives.
03
Start by documenting the properties or assets owned by each individual.
04
Identify the fair market value of each property or asset.
05
Calculate the outstanding mortgage or lien amount on each property.
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Determine the net equity value of each property by subtracting the mortgage or lien amount from the fair market value.
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List all other financial assets, such as bank accounts, investments, or retirement funds, along with their respective values.
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Include any outstanding debts or liabilities for each individual.
09
Specify any joint ownership or shared liabilities that exist among the relatives.
10
Double-check all the entered data for accuracy and completeness.
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Sign and date the disclosure form, indicating that all the information provided is true and accurate to the best of your knowledge.

Who needs disclosure of relative values?

01
The disclosure of relative values is typically required in various legal and financial situations, including but not limited to:
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- Divorce or separation proceedings where the division of assets and liabilities is involved.
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- Estate planning or inheritance matters to determine the distribution of assets among beneficiaries.
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- Real estate transactions or property disputes where multiple family members are involved.
05
- Financial planning or investment management to assess the overall wealth and net worth of a family.
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Overall, anyone who needs to understand the financial connections, net worth, and ownership structures among relatives would benefit from the disclosure of relative values.
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Disclosure of relative values is a financial reporting requirement where individuals must report the value of assets, liabilities, and income of their relatives.
Certain public officials, government employees, and individuals holding specific positions are required to file disclosure of relative values.
Disclosure of relative values is typically filled out by providing detailed information on the assets, liabilities, and income of the individual's relatives.
The purpose of disclosure of relative values is to promote transparency and prevent conflicts of interest by providing insight into the financial relationships of public officials and government employees.
Information such as the value of assets, liabilities, and income of the individual's relatives must be reported on disclosure of relative values.
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