timber sale

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  • Unregistered
    #1

    timber sale

    Taxpayer sold timber off some investment property and had a $50000 gain. Client contends
    it is nontaxable if he invests in similar timber property within a 3 yr period. I have never
    heard of this. Is this possible as some type of nontaxable exchange?

    Thanks in advance for any input, Dixie in NC
    Tags: None
    • JON
      Senior Member
      • Jul 2005
      • 1265
      #2
      Look at old posts...

      Discussed a long time ago. Long term capital gain I never have heard of a delay in reporting..

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        • Unregistered
          #3
          This site may help: http://timbertax.com/index.htm

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