This Tax Court decision disallowed a deduction for the contribution of a façade easement as well as the monetary contribution that accompanied the façade easement. The holding of the case was that the taxpayers failed to sustain their burden of proof that no benefit was received from the transaction. (Note that the U.S. Court of Appeals for the 2nd Circuit in 2011 reversed the Tax Court decision as to the cash contribution.)
Year: 2010
Organization/Source: United States Tax Court
Topic tags: Federal Tax Law
Related guides: Federal Tax Deductibility of Conservation Easement Donations