LPC-1 Schedule B: Statement by the Recipient With Respect to Tax Credits of $1 Million or More From a Donation Made on or After 1/1/07 of Less-Than-Fee Interest in Land (2025)
Virginia · Virginia Tax · Used for tax years 2025
Virginia Form LPC-1 Schedule B is a recipient statement for Land Preservation Credits of $1 million or more from a donation made on or after January 1, 2007, of a less-than-fee interest in land. It documents the property's conservation purposes and requests supporting documentati
Who files this form
Schedule B is the recipient’s statement for a Land Preservation Credit application involving tax credits of $1 million or more from a donation of a less-than-fee interest in land made on or after January 1, 2007.
The donation must serve at least one conservation purpose listed in Section I. The holder of the conservation or open-space easement must sign Schedule B to confirm the accuracy of the information about the property’s conservation value.
What you'll need
Include these documents with Schedule B:
- A copy of the recorded deed of conservation easement.
- The property’s baseline documentation record.
- Documentation supporting each conservation purpose selected in Section I.
Additional documentation depends on the purpose claimed. Examples include:
- Outdoor recreation or education: A current aerial photograph or map showing structures, roads, and parking areas, plus documents demonstrating the property’s conservation value.
- Watershed preservation, item F(1): Maps of significant wetlands.
- Natural habitat, item C(3): Agency documentation confirming that adjacent lands are managed primarily for natural habitat and biological diversity.
- Historic preservation: Documentation developed with the Virginia Department of Historic Resources.
- Official scenic designation, item G(5): Documentation from the designating agency specifically describing the designated or recommended land.
Have the deed available so you can identify the page and paragraph numbers for the required restrictions and access provisions.
Common mistakes
- Leaving out required attachments. Include the recorded easement deed, baseline documentation record, and support for the conservation purposes selected.
- Missing required checkboxes. Section I says to check all applicable boxes. All boxes must be checked for the outdoor recreation or education category and for Section II, Public Benefit.
- Omitting deed references. Identify the page and paragraph numbers wherever the form requests them.
- Skipping water-quality requirements. If the property has the water features listed in Section III(A), all five requirements in items (a) through (e) must be satisfied.
- Signing without reviewing the attestation. The easement holder must sign Schedule B and carefully review the statement before signing.
Questions people ask
Can I select more than one conservation purpose?
Yes. Section I directs you to check all applicable boxes and attach documentation supporting the selected purposes. The donation must serve at least one listed purpose.
Who signs Schedule B?
The easement holder’s authorized representative signs and dates Section IV and provides their printed name and title. The signature attests to the accuracy of the information provided or attached about the property’s conservation value.
Does the outdoor recreation or education category require public access?
Yes. The easement deed must ensure substantial and regular use by the general public. All five boxes in this category must be checked, and you must identify the deed’s page and paragraph containing the access provision.
What does the form require for forestlands of 20 acres or more?
Section III(C) requires the deed to provide for a current written forest management plan or Virginia Forest Stewardship Plan before timber harvesting or other significant forest management activities begin. Identify the relevant page and paragraph in the deed. The form directs applicants to the Virginia Department of Forestry for help with a plan.