You enter this information in
- Wages & Income
- Investment Income
- Stocks, Mutual Funds, Bonds, Other
When the program asks if you received a 1099-B for this sale, the answer is no.
Then you will see a list of items to choose from, you pick Eveything Else.
For your cost basis, most people will enter a 0, but you could enter what you originally paid for the seedlings or saplings. You claim your depletion amount as a cost of the sale.
Where do I enter income from a timber sale?
Publication 535-Business Expenses-Timber
@chasvt1
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
