Document Type
Article
Publication Date
7-9-2012
Abstract
The article discusses the recent Dunlap decision, which involved facade easement transfers to the National Architectural Trust, a qualified charity that preserves building easements across the country, although most are in New York City. Although allowing a deduction for their cash contributions to NAT to enforce the easement and not finding any penalties applicable, the Tax Court held that despite two valuation reports written by accepted valuation experts, the taxpayers had not established any value for their easement.
Recommended Citation
Facade Easement: Inexpert Valuation, 136 Tax Notes 199 (July 9, 2012)
Included in
Estates and Trusts Commons, Taxation-Federal Commons, Taxation-Federal Estate and Gift Commons, Tax Law Commons