Road to profit illustration IRS Issues Regulations on Conservation Easement Reporting
In December 2022, the IRS issued proposed regulations designating certain syndicated conservation easements as listed transactions. In their financing column, Ezra Dyckman and Charles Nelson offer their thoughts on how the regulations, finalized by the IRS on Oct. 8, 2024, "seem to go beyond congressional intent and create the added confusion of having two similar but not identical sets of rules."
October 22, 2024 at 10:00 AM
5 minute read
A taxpayer is generally allowed an income tax deduction for a charitable contribution of a conservation easement. To qualify for a deduction, the conservation easement must protect either land or a historic building from development in perpetuity and must meet numerous other requirements.
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