Anyone up on this?
I applied for a conservation easement on my property and a offer has been made.
I am wondering what the net would be. How is this money taxed? Sorry, I don’t want to disclose details and would probably have to eventually sign non-disclosure agreements.
I am going to ask my Tax accountant, but wouldn’t mind other opinions or general thoughts on the topic.
I have read in a few places that since the easement likely lowers your property value by the amount of the payment that it is not taxed.
It is taxed. Depending on the type of land (personal use or held for investment), and the exact nature of both the easement and exclusions, the calculation might be a little complicated.
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