Conservation easement deduction cut 85%

Conservation easement deduction cut 85%

The Internal Revenue Service has lost on most of its arguments seeking to deny a charitable contribution deduction for the gift of a conservation easement on 622 acres of land in Liberty County, GA.  But it has won the economic war when the Tax Court cut the deduction from a claimed $32.6 million to only $4.7 million after comparing the expert appraisals for each side.

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