McNeil v. COMMISSIONER OF INTERNAL REVENUE

US Tax Court, T.C. Memo. 2011-109, May 23, 2011: Follows the holding in Tempel v. Commissioner (US Tax Court, 136 T.C. No. 15, April 5, 2011), that Colorado State conservation easement tax credits are capital assets that qualify for capital gain treatment and the holding period for the assets sold begins at the time that the taxpayers received them and not when they acquired the real property that was the subject of the conservation easement.

Decision available at http://www.ustaxcourt.gov/InOpHistoric/McNeil.TCM.WPD.pdf.

Comments are closed.