IRC Section 47

IRS Section 47 provides a tax incentive called a "qualified conservation contribution," allowing individuals or entities to donate land or an interest in land for conservation purposes. If the contribution meets certain requirements, the donor can generally deduct its fair market value from their taxable income. This encourages land preservation by reducing tax burdens for donors. The rules specify how the land must be used, documented, and preserved, ensuring the conservation goal is met, and the deduction is properly claimed.