ELR Citation: ELR 20783
No(s). 74-2506 (9th Cir. Sep 20, 1976)

The court upholds the charitable deduction taken by land developers for a gift of 9.2 acres of redwoods to the city of Mill Valley, pursuant to a residential development plan, but remands the cause for a determination of the adjusted basis of the property. Taxpayers had bought, for investment purpos...