An open space easement donated on or after December 18, 1980, must meet the requirements of section 170(h) in order to be deductible.
A structure for purposes of this section means any structure, whether or not it is depreciable. Accordingly easements on private residences may qualify under this section. In addition, a structure would be considered to be a certified historic structure if it were certified either at the time the transfer was made or at the due date (including extensions) for filing the donor's return for the taxable year in which the contribution was made.
Whether the probability of extraction or removal of minerals by surface mining is so remote as to be negligible is a question of fact and is to be made on a case by case basis. Relevant factors to be considered in determining if the probability of extraction or removal of minerals by surface mining is so remote as to be negligible include: Geological, geophysical or economic data showing the absence of mineral reserves on the property, or the lack of commercial feasibility at the time of the contribution of surface mining the mineral interest.
Equation 1 to Paragraph (m)(2)(iv)
R = M * (T ÷ (D + T))
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
D = Ultimate member's portion of the adjusted basis in all the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
T = Ultimate member's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (B ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
B = Ultimate member's distributive share of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 2 to Paragraph (m)(3)(ii)
R = M * (E ÷ F)
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
E = Ultimate member's pro rata portion of the contributing S corporation's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
F = Ultimate member's pro rata portion of the adjusted basis in all the contributing S corporation's properties (including the portion of the real property with respect to which the qualified conservation contribution is made).
Equation 3 to Paragraph (m)(4)(ii)(B)
G = M * (U ÷ (J + U))
Where:
G = The portion of the ultimate member's modified basis that is allocable to the upper-tier partnership's interest in the contributing partnership.
M = Modified basis as determined under paragraph (l) of this section.
J = Ultimate member's portion of the adjusted basis in all the upper-tier partnership's properties (other than the upper-tier partnership's interest in the contributing partnership) as determined under paragraph (m)(4)(ii)(A)(2) of this section.
U = Ultimate member's share of the upper-tier partnership's adjusted basis in its interest in the contributing partnership, determined according to the following formula: H * (B ÷ K).
H = Upper-tier partnership's adjusted basis in its interest in the contributing partnership.
B = Ultimate member's distributive share of the qualified conservation contribution.
K = Upper-tier partnership's allocated portion of the qualified conservation contribution.
Equation 4 to Paragraph (m)(4)(iii)(B)
R = G * (V ÷ (L + V))
Where:
R = Relevant basis.
G = Amount determined with respect to item G as described under paragraph (m)(4)(ii)(B) of this section.
L = Upper-tier partnership's portion of adjusted basis in all the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
V = Upper-tier partnership's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (K ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
K = Upper-tier partnership's allocated portion of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 5 to Paragraph (m)(5)(ii)(B)
N = M * (P ÷ Q)
Where:
N = Portion of the ultimate member's modified basis that is allocable to the upper-tier S corporation's interest in the contributing partnership.
M = Modified basis as determined under paragraph (l) of this section.
P = Ultimate member's pro rata portion of the upper-tier S corporation's adjusted basis in its interest in the contributing partnership.
Q = Ultimate member's pro rata portion of the adjusted basis in all the upper-tier S corporation's properties (including the upper-tier S corporation's interest in the contributing partnership).
Equation 6 to Paragraph (m)(5)(iii)(B)
R = N * (W ÷ (S + W))
Where:
R = Relevant basis.
N = Amount determined with respect to item N as described under paragraph (m)(5)(ii)(B) of this section.
S = Upper-tier S corporation's portion of the adjusted basis in all the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
W = Upper-tier S corporation's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (Y ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
Y = Upper-tier S corporation's allocated portion of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 7 to Paragraph (m)(7)(i)(B)
R = M * (T ÷ (D + T))
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
D = Ultimate member's portion of the adjusted basis in all of the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
T = Ultimate member's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (B ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
B = Ultimate member's distributive share of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 8 to Paragraph (m)(7)(ii)(B)
R = M * (E ÷ F)
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
E = Ultimate member's pro rata portion of the contributing S corporation's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
F = Ultimate member's pro rata portion of the adjusted basis in all the contributing S corporation's properties (including the portion of the real property with respect to which the qualified conservation contribution is made).
Equation 9 to Paragraph (m)(7)(iii)(B)(1)
R = M * (T ÷ (D + T))
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
D = Ultimate member's portion of the adjusted basis in all the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
T = Ultimate member's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (B ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
B = Ultimate member's distributive share of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 10 to Paragraph (m)(7)(iii)(C)
G = M * (U ÷ (J + U))
Where:
G = The portion of the ultimate member's modified basis that is allocable to the upper-tier partnership's interest in the contributing partnership.
M = Modified basis as determined under paragraph (l) of this section.
J = Ultimate member's portion of adjusted basis in all the upper-tier partnership's properties (other than the upper-tier partnership's interest in the contributing partnership) as determined under paragraph (m)(4)(ii)(A)(2) of this section.
U = Ultimate member's share of the upper-tier partnership's adjusted basis in its interest in the contributing partnership, determined according to the following formula: H * (B ÷ K).
H = Upper-tier partnership's adjusted basis in its interest in the contributing partnership.
B = Ultimate member's distributive share of the qualified conservation contribution.
K = Upper-tier partnership's allocated portion of the qualified conservation contribution.
Equation 11 to Paragraph (m)(7)(iii)(F)
R = G * (V ÷ (L + V))
Where:
R = Relevant basis.
G = Amount determined with respect to item G under paragraph (m)(4)(ii)(B) of this section.
L = Upper-tier partnership's portion of adjusted basis in all the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
V = Upper-tier partnership's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (K ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
K = Upper-tier partnership's allocated portion of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 12 to Paragraph (m)(7)(iv)(B)
R = M * (T ÷ (D + T))
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
D = Ultimate member's portion of the adjusted basis in all of the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
T = Ultimate member's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (B ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
B = Ultimate member's distributive share of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
Equation 13 to Paragraph (m)(7)(v)(B)
R = M * (T ÷ (D + T))
Where:
R = Relevant basis.
M = Modified basis as determined under paragraph (l) of this section.
D = Ultimate member's portion of the adjusted basis in all of the contributing partnership's properties (other than the portion of the real property with respect to which the qualified conservation contribution is made) as determined under paragraph (m)(2)(iii)(B) of this section.
T = Ultimate member's share of the contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made, determined according to the following formula: A * (B ÷ C).
A = Contributing partnership's adjusted basis in the portion of the real property with respect to which the qualified conservation contribution is made.
B = Ultimate member's distributive share of the qualified conservation contribution.
C = Total amount of the contributing partnership's qualified conservation contribution.
26 C.F.R. §1.170A-14