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Rally 2023: The National Land Conservation Conference

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D08: Practical Pointers on IRS Form 8283 and Gift Letters

Correctly completing Form 8283 can make or break a conservation easement deduction and the IRS issued a new version of this form in November 2022. The IRS has fully denied deductions because of improperly completed forms or the lack of required documentation. A contemporaneous written acknowledgement is required to be received by the donor for the donation to be deductible. Knowing what transaction expenses are deductible is also critical, as many are unaware that reimbursing a landowner for such expenses could render the donation a "bargain sale." While donors are legally responsible for substantiating donations, land trusts may assist donors to understand the forms, so long as they don't provide legal advice. The session will also discuss how a donee organization should review a donor's appraisal, what to do if the claimed value is so high as to "shock the conscience," and recent changes to Land Trust Standards and Practices and recent court cases related to Form 8283 and gift letters.
  • 2023 Schedule-At-A-Glance
  • 2023 Schedule – Pacific Time
  • Inspiring Rally Speakers
  • Workshop Chart
  • Faculty

RALLY 2023 • National Land Conservation Conference

September 6-9, 2023 • Portland, OR
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