Conservation Easements the IRS audits

If you contribute a conservation easement to a qualified organization, then you’re not just protecting the natural value of that land for future generations. You may also be able to claim that contribution as a charitable deduction on your tax return.

 

IRS Cracking Down On Easements

The IRS has been cracking down on conservation easement transactions for over ten years. Nevertheless, taxpayers have continued to claim charitable contribution deductions attributable to the donation of conservation easements and promoters have continued to assemble investments utilizing conservation easement charitable deductions. The IRS began focusing on syndicated conservation easement transactions when it issued Notice 2017-10, designating syndicated conservation easement transactions as listed transactions.

 

Conservation Easements Get Audited

The Tax Court held that a limited liability company (LLC) was not entitled to a charitable contribution deduction for granting a conservation easement to a national land trust. According to the court, the LLC expected to receive a substantial benefit from the easement donation, and the easement had no value when it was donated.

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