Utah Tax Laws.....

P

Prism

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Anybody know if the new tax laws concerning "charitable" contributions will put a kabosh on writing off conservation tags when bought in Utah?
 
I had a good conversation with my tax guy back in January about this very subject. It can only -legally- be deducted by one party. So like if a guy buys a landowner tag for xxxx amount but the landowner already claims it as a charitable donation for giving it to some non-profit org. then the guy bidding that tag can't claim the $$ dedution too. If the landowner 'donating' the tags gets some thing in return like habitat improvements to his property then the land owner would have to take out the fair market value of those habitat improvements from his landowner tag/charitable donation amount unless the habitat improvements are of higher value than the tag donation amount.
Or if say a guide buys a bunch of consrv. tags and then sells them to his client, only one can claim the amount (after tag fee is taken out) ya can't claim the tag fee as a deduction, if they wanted to audit alot of the conservation deductins many would be getting hit with back taxes owed and double claimants for same amount.
 

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