The Tax Court has denied another deduction for the gift of a conservation easement to a charitable land trust. The Court denied the deduction on the ground that the easement was not protected in perpetuity because an existing mortgage was not subordinate to the easement. The Court denied the deduction even though the bank subsequently agreed to a subordination agreement. The taxpayers gave the easement on their 74-acre property near Boise, Idaho, in September 2006. They did not originally claim the deduction on their 2006 tax return because they had not received a written appraisal of the value. They filed an amended return in December 2007, claiming a total deduction of $941,000, which...