Forum Archive: Posts by: vcthomas

After being audited by the IRS in 2006 for the easement deduction we took in 2004, we were just handed a bill by the IRS for $145,000. We plan to fight the IRS and want to know if anyone else is on our position. Our brownstone (which we have since sold) is in Fort Greene, it was appraised for 1.2 million in 2004, and we deducted @ 90,000 over the next three years. The bill the IRS sacked us with included interest and penalties. We went on to sell the brownstone in 2007 for 1.8 million, so we feel confident our appraisal was on target. We are currently looking to hire a tax lawyer, and have several names, but would welcome any recommendations. We are aware that a similar case in Brooklyn has already gone before the court and is awaiting a decision. Any advice and/or information is greatly appreciated.