Description
Understand the real property and tax law issues raised by conservation easements.This course will include a historical recounting of conservation easements and other more general charitable contributions of real property. The basic statutory regime and applicable regulations will also be reviewed. Decided case law, presently pending disputes, and positions taken by the IRS in Rulings, Notices, and Chief Counsel Advices will then be considered. This material will be of interest to CPAs, family wealth advisors, real estate, tax, and general practice attorneys, and landowners.
Date: 2022-04-27 Start Time: End Time:
Learning Objectives
Some Historical Events Pertaining to the Development of IRS Section 170(h)
• Original Enactment in 1976
• Renewal/Extension in 1980
• Washington Post Articles in 2003
• Senate Finance Hearings in 2005
• Colorado Audits in 2009
• Amendments to IRC 170
• Release of IRS Notice 2017-10
• Proposed Legislative Revisions
The Basics of Noncash Real Estate Charitable Contributions
• Provisions of IRC Sections 170(a) • 170(g)
• Enhanced Incentives Are Applicable to Conservation Easements
• IRS Form 8283
Specific Incentives for Conservation Easement Deductions
• The Partial Interest Rule
• The 50 Percent Rule
• The 15-Year Carry-Forward
Statutory Requirements
• Qualified Real Property Interest
• Qualified Organization as Donee
• CE Must Serve at Least One Conservation Purpose
Further Requirements Imposed by Regulations
• Perpetuity Requirement
• Baseline Documentation Reports
• Treasury Regulation 1.170A-14(h)(3)
Syndicated CE Transactions and Those That May Be Substantially Similar
A Sampling of Authority Relevant to CEs and Outright Gifts of Real Estate
• Circuit Court Decisions
• Tax Court Decisions
• IRS Positions Under Rulings, Notices, Advices, and Audit Guide
Questions and Answers
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
William R. Sylvester, Esq.-Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, Timothy Wagner – Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
