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You are here: Home / Policy Action / Advocates Newsletter / adv-010710 / Description of the S-Corporation Fix

Description of the S-Corporation Fix

Excerpt from the January 7, 2010 ADVOCATES Alert

As of January 1, 2010:

  • The "S-corp fix" has expired. S-corporation shareholders will no longer be able to deduct full fair market value for charitable donations of appreciated property, but will rather be limited to their basis in that property.  Given the long holding periods of many farm properties, this change could severely limit the ability for S-corporation shareholders to deduct the full value of donated land or easements.  A one-year extension of the "S-corp fix" was included in the House "extenders" package and we're hopeful it will be extended, along with the easement incentive, in early 2010.

 

Click here for the full January 7th alert explaining what else expired at the end of 2009.

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June 12: In Historic First, Conservation Tax Incentive Approved by Committee

We are one step closer to making the incentive permanent, but we now need to convince House leadership that this is a priority for their members and should be brought to the floor for a vote ASAP. Please consider signing your land trust onto this letter by Independent Sector asking all members of the House to vote for the conservation tax incentive and two other charitable provisions.
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