If you received money from the sale of timber, you'll probably get a Form 1099-S. Sometimes though, it's reported on a Form 1099-MISC.
Regardless of which form you received, timber income is reported in the Investment Income section.
- Click on the Federal Taxes tab, then Wages & Income.
- Scroll down to the Investment Income section and click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.
- If you haven't entered any investment sales yet you will see a screen Did you sell any investments in 2016? Click on Yes.
- If you have entered investment sales you will see a screen: Here's the investment sales info we have so far.
Click on the link +Add More Sales link.
- On the screen Did you get a 1099-B. . . , click on No.
- For Choose the type of investment you sold select Everything else and click Continue.
- Carefully work through the following screens.
