timber sale

[tsimp]

Taxpayer received a 1099-S for the amount of timber sold on his property. Do I report this as ordinary income or capital gain income. Thanks

[ATSMAN]

There is a tax form called Form T that may apply or it may be Sch D

https://www.timbertax.org/getstarted/

[terryats]

If you are not familiar with timber sales, here is a web site that will help: https://www.timbertax.org/getstarted/

[Lion]

The TaxPro Journal that arrived today (Vol.27/Issue 1/2020) has an article on Timber Tax: How to conduct a successful client interview and prepare an accurate return, by Avery Dorland, EA. It includes some "Further resources," such as the above website and a Penn State Extension course. In fact, check your own state's or the state-of-sale's state university extension system (especially if it is land grant university) for information.

[timbertax]

Author of the Taxpro article here. I hope the Original poster got the issue resolved. The Penn State course is also very good and offers CE credits as well.