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Get your taxes done using TurboTax
I have to enter a timber sale as well.. Year 2020, desktop version. I can follow the directions. Question, I have always reported un schedule F.... not C. My activity does rise to material participation, but when I sale on a schedule D, I see I need to make an election to ensure capital gains.. A 631 election, can I do that on Turbo Tax.
But another question since my sales are all capital gains, and recorded on Schedule D, the revenue for the sale is not reported per schedule F, and therefore, I always have an operating loss. Any issues with that?
Jeff
March 30, 2022
10:49 AM