I take "Last year I received $6,400 from a forester for tree removal" to mean you sold timber.
The sale of timber is usually considered a capital gain.
In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)
- Wages & Income
Scroll down to:
-Investment Income
-Stocks, mutual funds, Bonds, Other (Timber is other)
Select "No financial institution". Answer no when asked if you got a 1099-B.
Cost basis for timber is usually zero. Timber basis is not the cost of the property.
For a discussion on Timber Basis, see https://www.extension.purdue.edu/extmedia/FNR/FNR_FAQ_2.pdf
References:http://www.timbertax.org/developments/Federal%20Income%20Tax%20on%20Timber-%20A%20Quick%20Guide%20fo...
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-income-from-a-timber-sale...
https://www.timbertax.org/getstarted/sales/
https://fwf.tennessee.edu/wp-content/uploads/sites/24/2020/06/Timber-Sale-is-Taxable.pdf
If you received a form 1099-S or other IRS form, from the buyer, do not try to find a 1099-S entry point. Enter as described above.
