Dear Opus 17: Thanks for your post. I have a conservation easement donated to a non profit land trust. I am trying to figure out the 8283 and a question came up. About 60% of this contagious land was inherited 40+ years ago and the remainder purchased at later dates. Does this mean that I have to use the basis of the inherited land 40 year ago for the noncash contribution this tax year?
In the recent appraisal, the appraiser determined the fair market value with and without the conservation easement donation. Is the net difference number what you put in on the 8283 Section B. part 1 line 3(C), "Appraised fair market value"?
I am a tax rookie and apologize in advance if this narrative doesn't make sense. I am very grateful for any help you could give.
