Conservation Deed Meets Substantiation Requirements For Charitable Deduction

The Tax Court has concluded in Averyt v. Commissioner (T.C. Memo. 2012-198) that the actual deed conveying a conservation easement to a charitable organization constituted a contemporaneous written acknowledgement that met the requirements of Section 170(f)(8).

Section 170(f)(8) requires taxpayers to substantiate a charitable contribution of $250 or more with a contemporaneous written acknowledgment from the donee organization that includes:

1. information regarding the amount of cash and a description of any property other than cash contributed,
2. information about whether the donee organization provided any goods or services in consideration for any property contributed, and