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Scenario $1$: Conservation Easement Donation

Taxpayers own a large parcel of land with significant ecological value. Adjusted basis: $$800,000$

They donate a conservation easement, reducing the property's development potential.

Qualified appraisal determines the fair market value of the land is $$3,000,000$ before the easement and $$1,500,000$ after.

Wages: $$150,000($combined$)$

Interest and Dividend Income: $$2,000$

Itemized Deductions: $$30,000($before considering the easement$)$

Allowable deduction for self$-$employment tax: None

Calculate:

The potential charitable deduction for the easement donation.

AGI, Taxable Income, and Total Tax Liability

Analyze the income limitations for this type of charitable contribution.