[WSBARP] Sale of an Easement - Capital Gains?

[David Faber]

I have a client who I've been working with for a couple years and they just
brought to me a novel issue: they're selling a "conservation easement" to a
local land trust for six figures. Needless to say, they wish to pay either
no taxes or long-term capital gains on the sale of the easement rather than
straight income taxes.  The former (no taxes) is likely impossible, but
because they have owned the property for more than a year and given that
the sale of the easement is, to my mind, a sale of a real property
interest, would it not be accurate to note that they could take advantage
of the tax savings offered by long-term capital gains taxes?

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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