Timber Tax Information for 2011

Federal Income Tax on TimberThe Forest Service recently released the 2011 edition of Federal Income Tax on Timber: A Key to Your Most Frequently Asked Questions, a quick-reference guide to timber tax laws impacting woodland owners.

Federal Income Tax on Timber, complete with a current update of the new tax law changes, provides timely tax reporting information for woodland owners and their advisors. It’s written in plain easy-to-understand language and includes examples.

Some of the questions that are answered in the 2011 edition of Federal Income Tax on Timber are:

  • Does my timber sale qualify for the favorable capital gain rate?
  • How do I claim a loss on my return for timber damaged by fire or storms?
  • How do I qualify for capital gains for the cutting of standing timber?


More Tax Help

The National Timber Tax Website was developed to be used by timberland owners, as well as a reference for accountants, attorneys, consulting foresters and other professionals who work with timberland owners regarding the tax treatment of timber related activities.

Webinar: Timber Tax Basis
February 22, 2012 12:00 pm ET and March 6, 2012 at 2 pm ET

This Webinar on Timber Tax Basis sponsored by Southern Regional Extension Forestry. This webinar is designed to give you a detailed and clear understanding of timber tax basis, a deduction that many landowners struggles with after timber sale or loss of timber from fire, theft or storm. Properly and timely setting up your timber basis is an important step in saving taxes, time, and hassle.

Webinar: Timber Tax Update for 2011 Tax Filing Season
February 29, 2012 2pm ET

The tax rules for timber differ significantly from the general tax rules for other activities. Learn the federal income tax laws on timber transactions that affect your 2011 tax return filing. We will explain the tax laws on timber income and deductions, provide practical tips, and answer your questions.

Both tax webinars will be presented by Linda Wang and John Greene

Linda Wang is National Timber Tax Specialist with USDA Forest Service in Washington D.C. She is the author for the lastest edition of Federal Income Tax on Timber, A Key to Your Most Frequently Asked Questions, a timber tax publication. She is the co-author of the annual Tax Tips for the Forest Landowners article. She has a Ph.D. in Forest Economics and a CPA certificate in Washington State.

John Greene is a Research Forester at the USDA Southern Research Station in North Carolina. He is the co-author for Forest Landowner's Guide to the Federal Income Tax, Estate Planning for Forest Landowners, and co-author of the annual Tax Tips for the Forest Landowners. He holds a Ph.D. in Forest Economics.