Georgia Conservation Easement Deductions Slashed by Tax Court

The charitable contribution tax deductions that two Georgia landlords can take for donating two conservation easements were slashed by the US Tax Court in a Tuesday ruling.

The two partnerships—Jackson Stone North LLC and Jackson Stone South LLC—couldn’t claim their asserted tax deductions for the combined 541 acres they donated to the Oconee River Land Trust in 2016, Judge Alina I. Marshall said Tuesday for the court. Jackson Stone North’s $19 million easement was disallowed entirely because its land assessment failed to comply with Treasury regulations, and Jackson Stone South’s $19 million easement was limited to $460,000.

Marshall rejected the ...