Enhanced Federal Tax Incentives for Land Conservation Renewed

This article is republished with permission from the January 2011 MassWoods update.

grampa-grandsonCongress recently renewed the enhanced tax deduction for conservation restriction donations through December 31, 2011!

This is a powerful tool for allowing modest-income donors to receive greater credit for donating a valuable conservation restriction on their property, but it’s only good for project completed in 2010 and 2011.

Specifically, the enhanced incentive:

  • Raises the deduction a donor can take for donating a conservation restriction from 30 percent of his or her income in any year to 50 percent;
  • Extends the carry-forward period for a donor to take tax deductions for a conservation restriction from 5 to 15 years; and
  • Allows qualifying farmers to deduct up to 100 percent of their income.

More information:

The University of Minnesota Extension Forestry team.

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