WASHINGTON, D.C. 20549

                              FORM 8-K
                           CURRENT REPORT

                    Pursuant to Section 13 or 15(d) of 
                   the Securities Exchange Act of 1934

                            January 20, 2006
                            Date of Report
                           (Date of earliest 
                            event reported)

                      CONSOLIDATED-TOMOKA LAND CO.
        (exact name of registrant as specified in its charter)

 FLORIDA                       0-5556                 59-0483700
(State or other                                     (IRS Employer
  jurisdiction                                       Identification 
  of incorporation)    (Commission File Number)      Number)
                 1530 Cornerstone Boulevard, Suite 100
                     Daytona Beach, Florida        32117
      (Address of principal executive offices)   (Zip Code)

          (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the securities   
    Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under 
    the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under    
    the Exchange Act (17 CFR 240.13e-4(c))


FORM 8-K, January 20, 2006
EMPLOYER ID NO.  59-0483700

Item 8.01. Other Events.

      On January 20, 2006, Consolidated-Tomoka Land Co., issued a
press release stating the Company entered into a closing agreement
with the Internal Revenue Service resolving a previously reported
dispute related to the appropriateness of Internal Revenue Code
Section 1031 tax deferred treatment utilized by the Company for three
of its twelve sales transactions reported in its 2002 tax year.

      A copy of the press release is furnished as an exhibit to this

Item 9.01. Financial Statements and Exhibits

The following exhibit is furnished herewith pursuant to Item 8.01 of
this Report.

        ( c ) Exhibits.

              99.1 Press Release issued January 20, 2006.


Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                            CONSOLIDATED-TOMOKA LAND CO.

Date: January 20, 2006      By:/S/Bruce W. Teeters
                            Bruce W. Teeters, Senior
                            Vice President - Finance
                            and Treasurer
                            Chief Financial Officer