Tuesday, February 28, 2012
Several years ago the IRS suffered a major defeat when the Tax Court blessed a $28.6 million charitable income tax deduction for the donation of a conservation easement encumbering the Kiva Dunes golf course, which is located on the gulf coast in Baldwin County, Alabama. Kiva Dunes Conservation, LLC v. Comm’r, T.C. Memo. 2009-145. ... [E]limination of the charitable deduction for contributions of conservation easements on golf courses is included in the Obama administration’s fiscal 2013 revenue proposals [page 140].