Occasional sale of timber & reforestation

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  • nwtaxlady
    Senior Member
    • Sep 2009
    • 418
    #1

    Occasional sale of timber & reforestation

    Client home is on 5 acres and just sold some timber about 4 1/2 acres. This is the only time he has done this and plans to. Can he elect to treat as capital gain as IRC section 631(b), and if so, then what do I do with the cost of replanting which is $3315. He received about $49,000. Can I use the cost to replant in the cost? He does not farm. No sch F.
    Tags: None
    • Lion
      Senior Member
      • Jun 2005
      • 4699
      #2
      Home — National Timber Tax
      https://www.timbertax.org/

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