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January 12, 2018
2018-0094

Tenth Circuit reverses district court, holding trust's charitable deduction for donated real estate is limited to its adjusted basis in the property

In Mart D. Green, Trustee v. United States, the Tenth Circuit has directed a district court to enter summary judgment for the government, having concluded that the amount of the charitable deduction a trust may take under Section 642(c)(1) stemming from its donation of three real estate parcels is limited to the trust's adjusted basis in the donated properties, not their fair market value. A Tax Alert is forthcoming.

 

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