(charitable deduction denied for contribution of facade easement on historic property or corresponding cash donation; donation was to qualified charity, but letter existed which assured that cash contribution would be returned and eliminate the easement if IRS subsequently disallowed charitable deduction; letter rendered gift conditional and donation, therefore, no longer deductible because easement not protected in perpetuity as required by I.R.C. Sec. 170(h)(5)(A); possibility of disallowance by IRS not negligible given IRS scrutiny of such donations and claimed deductions).
CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.