Preserving the Conservation Contribution Deduction
Author: Bradley T. Borden.; Andrew M. Wayment .
Source: Volume 30, Number 02, Winter 2013 , pp.23-45(23)
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Abstract:
The IRS is increasingly scrutinizing conservation contribution deductions. Although a contribution of a conservation easement provides an excellent public benefit, and the bonus of a tax break for the contributor, the contributor will lose that tax benefit if the contribution does not satisfy the technical requirements in the Code and regulations. This article reviews those requirements and discusses recent case law that considers the IRS’s application of the rules to various types of contributors.Keywords: conservation easements, conservation contribution deduction, IRC Sec. 170, exclusive-use requirement; conservation purposes
Affiliations:
1: Brooklyn Law School; 2: Wright & Wayment, PLLC.