Is this donation a listed transaction?
About This Guidance
On Oct. 8, 2024, the U.S. Treasury published final, immediately effective (and retroactive to 2018), listed transactions regulations (TD 10007) that have important implications for land trusts working on donations by pass-through entities (“regulations”). These regulations require “material advisors” to report these types of transactions to the IRS and failing to do so will trigger a $200,000 penalty.
The following decision tree can assist a land trust in determining if the donation meets the criteria of a listed transaction, thus requiring the donors and other participants to report the donation.
As our understanding of the Regulations increases and we receive new information, we will update this resource. Please check back regularly if you engage in transactions with pass-through entities.
Disclaimer
These resources are provided "as is" for informational purposes only, without warranty of any kind. They do not constitute legal or professional advice and do not create an attorney-client relationship. They may not reflect current legal developments and should be adapted for your organization with qualified professional help. The Alliance is not liable for any damages arising from use of or reliance on these resources. Views in individual posts and third-party links/logos are not Alliance endorsements. The Alliance is committed to equal opportunity and does not condone unlawful discrimination.
For accreditation-related materials, please also consult the Land Trust Accreditation Commission website.