10/22

Tax Court Conservation Easement Ruling Tossed Out

Bloomberg Tax
Aysha Bagchi
October 22, 2020

The U.S. Tax Court wrongly disallowed tax deductions for two conservation land deals by misinterpreting a restriction on the type of deal that qualifies for the deduction, the Eleventh Circuit ruled.

The Tax Court also incorrectly calculated the value of a third deduction, according to a three-judge panel of the U.S. Court of Appeals for the Eleventh Circuit. The case will now be sent back to the Tax Court to revalue the third deduction and also determine whether the first two deductions were allowed under a separate provision of the tax code.

Read the full article in Bloomberg Tax.


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