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How a Georgia Pine Farm Became a Significant Tax Deduction

CRAWFORD, Ga. Baptist pastor John M. McGinnis left his family a 434-acre hearth when he died in 2006, writing in his will that his heirs could eventually sell it for a “stump of cash.”

By 2020, some McGinnis family members sold three-fifths of the property for $ 310,000. By the end of 2021, the Oglethorpe County land had been resold, this time to a company that raised $ 10.7 million from investors in a land conservation deal. That transaction could give its investors millions of dollars more in tax deductions – as well as investigation by the Internal Revenue Service.

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