In Scheidelman v. Comm’r, the Fifth Circuit affirmed the Tax Court’s decision to deny the appellant’s charitable deduction pursuant to Section 170(f)(3)(B)(iii) of the Code in connection with her donation of a façade conservation easement to the National Architectural Trust because the court found that the easement did not diminish the fair market value of the property as required by Treas. Reg. §1.170A-14(h)(3)(l).

Posted by Theodore H. Waggner, Esq., Associate Editor, Wealth Strategies Journal