ATR Opposes the Daines-Stabenow 2384 Amendment

This amendment is a net tax increase and a retroactive tax increase. It would increase income taxes by placing a limitation on the conservation easement deduction by restricting partnerships from taking the conservation easement deduction if the value of the donation exceeds 2.5 times the taxpayer’s basis.

It would apply this retroactively back to Notice 2017-10 released on December 23, 2016, so would impact taxpayers in tax years 2016, 2017, 2018, 2019, 2020, 2021 and for future years.

If lawmakers want to make changes to the conservation easement deduction, they should do so as part of a net tax cut and prospectively, not retroactively.