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Taxation & Estate Planning

: TaxProf Blog

IRS Burns Kirk Herbstreit's Donation of Home to Fire Department

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It is increasingly common for wealthy people to buy an existing home in a desirable neighborhood and immediately tear it down and build a larger "McMansion" on the property. But did you know that it may be possible to get a tax deduction for the value of the existing home...

Full post as published by TaxProf Blog on July 24, 2009 (boomark / email).

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