Another Syndicated Conservation Easement Bites the Dust

The US Tax Court released the JL Minerals case yesterday and dropped the deduction from $16.745 million to less than $100,000.

Photo by Chris on Unsplash

Any time the Tax Code allows a taxpayer to a deduction based on an “qualified” appraisal, you know that abuses will occur and yesterday the US Tax Court dropped the hammer on another one.

JL Minerals LLC had appealed the IRS denying their $16.745 million deduction and appealed it to the US Tax Court.