Private Equity Blogs

There is No Free Lunch: Tax Court Rejects Charitable Deduction for House Given to Fire Department to Be Burned Down

In Rolfs v. Comm’r, (2010) 135 TC No. 24 (Nov. 4, 2010), the Tax Court held that a couple cannot claim a charitable contribution deduction for a house donated to a local fire department for training purposes, because they did not show that the value of the house...