Michelle Ferreira, Barbara T. Kaplan and Courtney A. Hopley (Greenberg Traurig LLP): House Proposal Targets Charitable Deductions for Conservation Easements by Passthrough Entities (September 20, 2021)

Michelle FerreiraBarbara T. Kaplan, and Courtney A. Hopley , of Greenberg Traurig LLP, have made available for download their article, “House Proposal Targets Charitable Deductions for Conservation Easements by Passthrough Entities”, published in Greenberg Traurig Tax Legacy Advisors. The article begins as follows:

On Sept. 13, 2021, the U.S. House Ways and Means Committee announced a proposal to limit charitable deductions for conservation easement contributions made by partnerships and other passthrough entities. The proposal, which targets syndicated conservation easement transactions, would disallow a taxpayer’s charitable contribution deduction when it exceeds 2.5 times the taxpayer’s modified basis in the passthrough entity. The proposal also addresses the application of the accuracy-related penalty and statute of limitations to conservation easement transactions. If enacted, the House proposal would make it considerably more difficult for taxpayers to prevail in cases involving conservation easement transactions.

Click here to see the full article: “House Proposal Targets Charitable Deductions for Conservation Easements by Passthrough Entities”.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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