The taxpayers earned $80 million per year and purchased an estate for 48 million. the first appraiser's
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The taxpayers earned $80 million per year and purchased an estate for 48 million. the first appraiser's conservation easement had a fair market value of $49 million, and the second appraiser took the position that the conservation easement had a fair market value of $38 million. The taxpayers donated a perpetual for 49 million.
The IRS disallowed a charitable deduction for the gift of the conservation easement in its entirety. The IRS alleged civil fraud based on the appraisal.
What are the deduction issues and penalties issues?
Related Book For
Operations Management Managing Global Supply Chains
ISBN: 978-1506302935
1st edition
Authors: Ray R. Venkataraman, Jeffrey K. Pinto
Posted Date: