Trump’s Yuge Golf Course Conservation Easement Tax Break: $323 Million

Wall Street Journal, Trump’s Golf-Course Tax Break Could Reach $323 Million:

Donald Trump could claim up to $323 million in federal income-tax deductions for promising not to build on one of his golf courses in Florida, according to a federal tax form from his company.

The move to protect the Blue Monster golf course at Trump National Doral Golf Club might have helped the former president lower the tax bill on the sale of his hotel in Washington in 2022, and it provides a glimpse into the Republican presidential front-runner’s finances since he left the White House in 2021. The transaction on the 184-acre Miami-area property is by far Trump’s largest known use of the conservation-easement tax break, which has previously prompted questions from state officials and the Internal Revenue Service. It is more than 10 times bigger than his similar deals in California and New York.

The deal could save him nearly $120 million in taxes at current rates. The tax form and related documents were obtained by The Wall Street Journal through a public-records request to the City of Doral.

“This is larger than anything I’ve seen,” said Russell Shay, a conservation consultant who has reviewed hundreds of easements. ...

At Doral, the easement shrank the property’s value to $345 million from $668 million, for a $323 million potential deduction, according to an IRS Form 8283. Federal tax forms are confidential at the IRS, but because the easement was accepted by the City of Doral and not a private land trust, the form was signed by the city manager and is a public record. ...

 The Obama administration proposed banning easements on golf courses but that idea never advanced in Congress.