Belk v. Commissioner—4th Circuit Confirms That Swappable Conservation Easements Are Not Deductible

Originally published by Nonprofit Blogger .

In Belk v. Commissioner, No. 13-2161 (Dec. 16, 2014), the 4th Circuit affirmed a Tax Court ruling that a conservation easement that authorized the parties to agree to “substitutions” or “swaps” (i.e., to remove some or all of the original…

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