Golf Course Land Donation Valued at $7.8 Million, Says Tax Court

The owners of a Georgia golf course that donated land for conservation purposes and was ruled to be entitled to a deduction by the Eleventh Circuit has had their donation valued at $7.8 million, the US Tax Court found.

Champions Retreat Golf Founders LLC in 2010 donated 348 acres of land as a conservation easement, which allows taxpayers to donate land to be protected “in perpetuity” under tax code Section 170, and sought a $10.8 million tax break for the donation.

The IRS denied the deduction, finding that the land, which was part of a golf course, ...