tbkea
New Member

1099-misc for Timber Sales instead of 1099S, what to do?

I recd a 1099-misc for timber sales, listed as royalties & TT  is making me complete a schE for investment inc. I think this should've been reported on a 1099-s &I should complete a ScD. But should I just proceed w/ SchE &write in the cost basis of timber at date of purchase for that deduction?