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Can a conservation easement protecting open space in a real estate development qualify for an income tax deduction?

April 26, 2017conservation deduction Development easement Protecting qualify Real Estate

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Can a conservation easement protecting open space in a real estate development qualify for an income tax deduction?

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No tax deduction will be allowed if the donation is made under compulsion, or in exchange for a benefit that the landowner expects to receive. Also, charitable income tax deductions for real estate developers are generally limited to the tax basis of the property.