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The odds are exceptionally good that he wasn't trying to maximize profits with the sale. Additionally, the valuation of the land as an open space preserve is f
by eitally 3y ago
The odds are exceptionally good that he wasn't trying to maximize profits with the sale. Additionally, the valuation of the land as an open space preserve is far different than it might be if it were estimated for development.
- deleted 3y ago[deleted]
- gnicholas 3y agoI did wonder (as a former tax lawyer) if he is also claiming a deduction, on the theory that he is donating a portion of the FMV to the land trust. Some land owners have donated development rights to properties they own, which reduces the future value of the land (and generates a hefty current deduction).