Bill Koch property

William Ingraham Koch wanted to expand his Cape Cod vacation home compound, a lavish estate where he hosted a 2016 campaign fundraiser for Donald Trump. The Florida billionaire, whose primary Palm Beach home is six blocks from Donald Trump’s Mar-a-Lago resort, wanted the neighboring 26-acre estate so much that, The Koch Papers show, he paid more than twice the $29.5 million appraised value of the property.

The price Bill Koch paid, according to the documents? $63,744,920.

The total amount he deducted? $42,637,729.

The 2013 purchase added 26 acres to Koch’s existing property, including a peninsula that gave him increased privacy. The purchased property boasted a magnificent 7,000 square foot home and more than a thousand feet of waterfront with a beach house, tennis courts and extensive gardens.

Sotheby’s, in a brochure, called the property Koch bought “One of the most significant parcels on the entire East Coast.” The Cape Cod real estate deal was widely reported in publications covering real estate and Boston area business.

How did Koch deduct two-thirds of the value of a personal residence? […]