[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-303446-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-303446-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","timber-tax-filing-timber-tax-reporting","TIMBER TAX FILING - Timber Tax Reporting","","Educational slide deck on timber taxation, focusing on timber tax reporting and key filing concepts for landowners and timber sellers. Covers timber ownership classifications, deductible expenses, schedules and forms including Form T (Timber) and related IRS forms, plus applicable ordinary income and long-term capital gains rates. Explains reporting timber sales across investment and business scenarios, depletion and basis concepts, reforestation deductions, and summarizes major tax law changes affecting 1/14/16 topics.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/presentations/","Presentations",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/timber-tax-filing-timber-tax-reporting/303446/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/timber-tax-filing-timber-tax-reporting/303446.png","ImageObject",442,249,{"name":42,"@type":43},"McQueen","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-29","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":33},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What is Form T (Timber) used for?","Question",{"text":62,"@type":63},"Form T (Timber) is a Forest Activities Schedule with five parts covering acquisition, timber depletion, profit or loss from land and timber sale, reforestation and timber stand activities, and ownership.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"How are timber ownership purposes classified in the presentation?",{"text":67,"@type":63},"The slides distinguish personal property for enjoyment, investment property for generating profit, and business property where profit motive is paired with more frequent and regular activity than investment.",{"name":69,"@type":60,"acceptedAnswer":70},"When might someone need to file Form T (Timber)?",{"text":71,"@type":63},"Occasional timber sellers are not required to file; “occasional” is defined as one or two sales every 3 or 4 years. It is prudent to file when claiming a depletion deduction or if selling business timber.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},303446,1790140928,{"code":4,"msg":81,"data":82},"success",[83,87,92,97,102,107,112,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":85,"slug":86},11,90,"presentations",{"id":88,"doc_module":22,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},12,"Resumes",80,"resumes",{"id":93,"doc_module":22,"doc_module_name":25,"category_name":94,"show_sort_weight":95,"slug":96},14,"Invoices",70,"invoices",{"id":98,"doc_module":22,"doc_module_name":25,"category_name":99,"show_sort_weight":100,"slug":101},15,"Posters",60,"posters",{"id":103,"doc_module":22,"doc_module_name":25,"category_name":104,"show_sort_weight":105,"slug":106},16,"Social Media",50,"social-media",{"id":108,"doc_module":22,"doc_module_name":25,"category_name":109,"show_sort_weight":110,"slug":111},17,"Forms",40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":84,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":33,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":108,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":140},5909890329169,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","1/14/16  \nTIMBER TAX FILING  \nDr. Linda Wang  \nNational Timber Tax Specialist USDA Forest Service  \n1  \n\n| Disclaimer |\n| --- |\n| Today’s discussion is educational, NOT legal or accounting advice, since the facts and circumstances of each taxpayer’s individual situation need to betaken into consideration for exact application of the tax law.\u003Cbr>2 |\n\n1/14/16  \n\n| Today’s Agenda |\n| --- |\n| Timber Tax Reporting\u003Cbr>§ Timber Ownerships\u003Cbr>§ Deductible Expenses\u003Cbr>§ Form T (Timber)\u003Cbr>§ Tax Rates\u003Cbr>§ Reporting Timber Sales\u003Cbr>§ Taking Timber Depletion Deductions\u003Cbr>§ Taking Reforestation Deductions\u003Cbr>Tax Law Changes\u003Cbr>§ Sec. 179 Expensing and Bonus Depreciation\u003Cbr>§ Timber C corporations Get Capital Gains Treatment\u003Cbr>§ Conservation Easement Provisions Permanently Extended\u003Cbr>Bonus\u003Cbr>§ Form 1099\u003Cbr>3 |\n\n\n| Timber Ownerships |\n| --- |\n| Personal Property\u003Cbr>§ Your main purpose of land ownership is for personal\u003Cbr>enjoyment, not for profit\u003Cbr>Investment Property\u003Cbr>§ Your main purpose to generate profit\u003Cbr>Business Property\u003Cbr>§ Your main purpose is to generate profit\u003Cbr>§ Your activity is more frequent and regular than investment\u003Cbr>4 |\n\n1/14/16  \n\n| Deductible Expenses |\n| --- |\n| § Tools of short useful life or small cost, e. g., axes, handsaws, etc.\u003Cbr>§ Hired labor\u003Cbr>§ Fees of consultant and accountant\u003Cbr>§ Property taxes\u003Cbr>5 |\n\n\n| Deductible Expenses |\n| --- |\n| § The costs of prescribed burning\u003Cbr>§ The expenses of fire, insect and disease control and protection; and\u003Cbr>§ road and firebreak maintenance costs\u003Cbr>§ Overnight travel\u003Cbr>6 |\n\n1/14/16  \n\n| Schedules for Reporting Expenses |\n| --- |\n| For an investment timber property\u003Cbr>§ Form 1040, Schedule A\u003Cbr>§ Subject to 2 percent of your AGI floor\u003Cbr>For timber business expenses\u003Cbr>§ Form 1040, Schedule C if you materially participating in the business\u003Cbr>7 |\n\n\n| What Is Form T (Timber)? |\n| --- |\n| Forest Activities Schedule\u003Cbr>This tax form has five parts:\u003Cbr>§ Acquisition\u003Cbr>§ Timber Depletion\u003Cbr>§ Profit or Loss from Land and Timber Sale\u003Cbr>§ Reforestation and Timber Stand Activities\u003Cbr>§ Ownership\u003Cbr>8 |\n\n1/14/16  \n\n| Who Must File Form T? |  |\n| --- | --- |\n| Occasional timber sellers\u003Cbr>§ are not required to file\u003Cbr>§ “Occasional”: one or two sales every 3 or 4 years\u003Cbr>Prudent to file\u003Cbr>§ when you claim depletion deduction or\u003Cbr>§ if you sell business timber | 9 |\n\n\n| Tax Rates |\n| --- |\n| Ordinary Income:\u003Cbr>§ 10% -39. 6%\u003Cbr>Long-term capital gains:\u003Cbr>§ 0%, 15%, 20%\u003Cbr>10 |\n\n1/14/16  \n\n| Long-Term Capital Gain Tax Rates |\n| --- |\n| 0% capital gains tax rate:\u003Cbr>§ If your taxable income is up to $74,900 (joint returns)\u003Cbr>§ up to $37,450 for single taxpayers\u003Cbr>15% max. tax rate\u003Cbr>§ for most taxpayers\u003Cbr>20% max. rate\u003Cbr>§ If your taxable income is over $464,851 (Joint) or\u003Cbr>§ over $413,201 (Single)\u003Cbr>11 |\n\n\n| Tax Rates |\n| --- |\n| 3.8% Net Investment Income Tax\u003Cbr>§ The tax is imposed on the lesser of:\u003Cbr>o Net investment income for the year or\u003Cbr>o The excess of modified adjusted gross income over $200,000 ($250,000 joint filers)\u003Cbr>12 |\n\n1/14/16  \n\n| An Example |\n| --- |\n| Facts\u003Cbr>§ Husband and wife had $270,000 adjusted gross income, including $50,000 capital gains.\u003Cbr>Analysis\u003Cbr>§ The excess of $270,000 over $250,000 threshold is $20,000 .\u003Cbr>§ Thus, their net investment income tax is $760 (or 3 .8% of $20,000)\u003Cbr>13 |\n\n\n| Quiz |\n| --- |\n| If your adjusted gross income is less than $200,000, your capital gains are not subject to the 3.8% net investment income tax.\u003Cbr>True or False?\u003Cbr>14 |\n\n1/14/16  \n\n| Reporting Timber Sales |\n| --- |\n| 1. Sale of Standing Timber as Investment\u003Cbr>§ Sale of standing timber held as an investment is a capital gain\u003Cbr>§ Form 1040 Schedule D Form 8949, as applicable\u003Cbr>15 |\n\n\n| Reporting Timber Sales |\n| --- |\n| 2. Sale of Standing Timber in Business\u003Cbr>§ Sale of standing timber held in a business is a capital gain if it’s held for more than 1 year\u003Cbr>§ Tax Form 4797\u003Cbr>Schedule D\u003Cbr>16 |\n\n1/14/16  \n\n| Reporting Timber Sa","cbCaifsH00A6jA6T","https://ap.wps.com/l/cbCaifsH00A6jA6T","pdf",256193,"English","# Today’s Agenda\n## Timber Tax Reporting\n## Tax Law Changes\n# Timber Ownerships\n# Deductible Expenses\n# Schedules for Reporting Expenses\n# What Is Form T (Timber)?\n# Who Must File Form T?\n# Tax Rates\n## Long-Term Capital Gain Tax Rates\n# An Example\n# Quiz\n# Reporting Timber Sales\n## Taking Depletion Deduction","[{\"question\":\"What is Form T (Timber) used for?\",\"answer\":\"Form T (Timber) is a Forest Activities Schedule with five parts covering acquisition, timber depletion, profit or loss from land and timber sale, reforestation and timber stand activities, and ownership.\"},{\"question\":\"How are timber ownership purposes classified in the presentation?\",\"answer\":\"The slides distinguish personal property for enjoyment, investment property for generating profit, and business property where profit motive is paired with more frequent and regular activity than investment.\"},{\"question\":\"When might someone need to file Form T (Timber)?\",\"answer\":\"Occasional timber sellers are not required to file; “occasional” is defined as one or two sales every 3 or 4 years. It is prudent to file when claiming a depletion deduction or if selling business timber.\"}]","TIMBER TAX FILING - Timber Tax Reporting | PDF",1789803580,6]