Daily Tax Report ®

Tax Court Denies $8M Georgia Conservation Easement Deduction

Feb. 13, 2020, 10:52 PM

A company provided an “intentionally incomplete” tax return claiming a nearly $8 million deduction for donation of land for a conservation easement, the U.S. Tax Court ruled on Thursday.

Oakhill Woods LLC donated 379 acres in Effingham County, Ga., to the Georgia Land Trust, and worked with consulting firm Forever Forests to maximize its tax benefits. The company submitted a tax return claiming a $7.95 million deduction. The IRS rejected it because the company didn’t include information verifying the claimed deduction’s “cost or adjusted basis” on its Form 8283, thus failing to include a properly completed appraisal summary.


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