Tax Court

Syndicated conservation easements: Tax Court disallows $142 million in deductions and imposes 40 percent penalties

The court found appraisals valuing rural land as a granite quarry and luxury subdivision described a use that was never feasible.

Cottonwood Ridge Holdings, LLC v. Commissioner · Nos. 11204-23 et al.

By Samuel Reyes, US tax correspondent

5 min read