BC Ranch II, L.P. v. Commissioner

In my view, Part III.A.2.a of the majority opinion erroneously reverses the Tax Court’s holding that the conservation easements granted by the BCR Partnerships were not granted in perpetuity, as required by IRC § 170(h)(2)(c), and thus did not constitute qualified real property interests for which the Partners develop land that was initially protected by the easements simply by hips could claim $15.9 million in charitable contribution income tax deductions.1 The majority opinion also applies an impermissibly lax standard when reviewing the claimed deduction, contrary to the Supreme Court’s…