If don't have a way of determining value of an asset at the time of conversion from personal to business use, eg a year or more ago, can current FMV be used instead, or best guesstimate of a value between purchase price and current FMV?

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You can't use current FMV. You need to make a reasonable estimate of the value as of the time of conversion, and be able to support your valuation with external invormation such as listed prices of similar assets at the time of conversion.

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If don't have a way of determining value of an asset at the time of conversion from personal to business use, eg a year or more ago, can current FMV be used instead, or best guesstimate of a value between purchase price and current FMV?

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If don't have a way of determining value of an asset at the time of conversion from personal to business use, eg a year or more ago, can current FMV be used instead, or best guesstimate of a value between purchase price and current FMV?

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