Oakbrook Land Holdings LLC, v. Commissioner
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About This Legal Opinion
Investors purchased 143 acres on White Oak Mountain near Chattanooga, Tennessee, for $1.7 million in December 2007. Oakbrook granted a conservation easement on 106 acres a year later and claimed a $9,545,000 value for the easement — a 700% appreciation in value.
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Oakbrook Land Holdings LLC, v. Commissioner__full tax court
Investors purchased 143 acres on White Oak Mountain near Chattanooga, Tennessee, for $1.7 million in December 2007. Oakbrook granted a conservation easement on 106 acres a year later and claimed a $9,545,000 value for the easement — a 700% appreciation in value.
Oakbrook Land Holdings LLC, v. Commissioner__memo opinion
Investors purchased 143 acres on White Oak Mountain near Chattanooga, Tennessee, for $1.7 million in December 2007. Oakbrook granted a conservation easement on 106 acres a year later and claimed a $9,545,000 value for the easement — a 700% appreciation in value.
TOT Property Holdings, LLC v. Commissioner
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Plateau Holdings, LLC v. Commissioner
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Lumpkin One Five Six, LLC v. Commissioner
Lumpkin One Five Six LLC v. Commissioner - June 2020.pdf In a proceeds clause case with the improvement deduction language, the Tax Court denied the deductions in full, following Oakbrook Land Holdings LLC, v. Commissioner and Coal Property Holdings, LLC v. Commissioner. The Tax Court declined to consider the IRS' argument on the floating building areas.