YouTube of Conservation Easement

Abusive syndicated conservation easement transactions have been of concern to the IRS for several years. “Taxpayers should ignore this nonsense, take an objective look at their cases, and cut their losses,” said IRS chief counsel Mike Desmond in a statement. In typical listed syndicated conservation easement structures, promoters syndicate ownership interests in real property through partnerships, using promotional materials to suggest that prospective investors may be entitled to a share of a conservation easement contribution deduction that equals or exceeds two and one-half times the investment amount. The promoters obtain an appraisal that greatly inflates the value of the conservation easement based on a fictional and unrealistic highest and best use of the property before it was encumbered with the easement. After the investors put money into it, the partnership donates a conservation easement to a land trust. Investors in the partnership then claim a deduction based on an inflated value. The investors typically claim charitable contribution deductions that grossly multiply their actual investment in the transaction and defy common sense. In fact, professional liability experts see conservation easements as spiking the next wave of malpractice claims against accountants and tax preparers. The IRS is disallowing the tax deduction and fineing the taxpayer. Google Lance Wallach and whoever is giving you advice. Who do you believe?