Purdue University - Extension - Forestry and Natural Resources
Got Nature? Blog
Posted on January 29th, 2016 in | Comments Off on I have sold timber. Where can I get help filing taxes on the sale?
The best source of up-to-date information is the National Timber Tax website. Timber income is always taxable, but it usually qualifies as a long-term capital gain taxed at a lower rate than ordinary income like wages and salary. You may also be able to offset part of your revenue with a depletion allowance.
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