Practical Perspectives: Key financial issues for you and your family – Retirees consider a qualified conservation contribution

Description

Abstract: This issue’s “Practical Perspectives” introduces Edward and Virginia, recent retirees who maintain a vacation home in a densely wooded area abundant with wildlife. They contacted their CPA to ask about donating part of the land to charity to help teach younger generations about preserving nature and living sustainably. Their CPA explained that, indeed, owners of real property may be able to make a “qualified conservation contribution” for precisely that purpose.