RESOURCES FOR LAND TRUSTS

• Water Rights Due Diligence Checklist

• Checklist of Water Rights Provisions in Deed of Conservation Easement

• Closing/Post-Closing Considerations

• Federal Income Tax Deduction Checklist

• State Income Tax Deduction Checklist

• Water Rights Stewardship Checklist

• Conservation Easements Encumbering Water Rights Memo (pdf)

• Model Language (word document)

Technical Assistance | Water Rights Handbook | Resources for Land Trusts

Federal Income Tax Deduction Checklist

Part 1: Conservation Purpose

• Is the water included in the conservation easement necessary to preserve the conservation value(s)?

Part 2: Appraisal

• Is there a qualified appraisal?
• Was the appraisal prepared by an IRS qualified appraiser?
• Is appraisal dated within 60 days of closing?
• Did landowner receive appraisal before filing his tax return/amended tax return on which he or she claimed a donation?
• Is the claimed deduction the “fair market value” of the conservation easement donation?
• Does the appraisal address the effect of the conservation easement on other property owned by the donor, the donor’s family, and related persons?
• Does the appraisal include all contiguous property owned by the donor and the donor’s family?

Part 3: Form 8283

• Has the landowner signed Form 8283?
• Has an IRS “qualified appraiser” signed Form 8283?
• Has the conservation organization signed Form 8283?