Forbes has published an article, “TOT Property Holdings Highlights Fundamental Flaw In Conservation Syndications,” which discusses the lawsuit between IRS and TOT Property Holdings LLC. The article begins as follows:
The Eleventh Circuit has dealt a blow to the beleaguered syndicated conservation easement (SCE) industry in its decision upholding the Tax Court in TOT Property Holdings LLC v IRS. As I have noted elsewhere SCE is an industry based on nonsense. Investors buy into a partnership that has recently acquired a property. They then vote to donate an easement on the property to a land trust. The declared value of the easement is a multiple of the price paid for the entire property.
Click here to see full article: “TOT Property Holdings Highlights Fundamental Flaw In Conservation Syndications.”
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.