Air Rights Easement Doesn't Meet Criteria for Charitable Deduction

摘要

A property owner who donated a conservation easement limiting his rights to develop air space above a historic building is not entitled to a charitable deduction under Section 170(h) of the Internal Revenue Code, the U.S. Tax Court ruled. (Herman v. Commissioner, No. 14005-07, 2009 WL 2923945 (U.S. Tax Ct.), September 14, 2009)rnTaxpayer J. Maurice Herman, through his wholly owned limited liability company, Windsor Plaza, L.L.C., held an 11-story apartment building on Fifth Avenue in New York City, along with the development rights to 22,000 square feet above the building.rnThe National Park Service determined that the property contributes to the significance of the Upper East Side Historic District and is a certified historic structure within the meaning of Section 170(h)(4)(B)(ii).