You can enter this without using the Jump to tool.
- Click on the Wages & Income tab
- Next click on I'll choose what I work on
- Scroll down the screen until you come to the section Investment Income
- Chose Stocks, Mutual Funds, Bonds, Other and select Start or Update
- The first screen will ask if you sold any investments during the year, answer
- Did you get a 1099-B or a brokerage statement for these sales? Answer No
- Tell us about this sale, Click I'll enter one sale at a time
- The drop-down boxes can be filled out with the details of the timber sale
- Description - Timber parcel with general location or address
- Date sold - your records
- Date acquired - from your records
- Sale proceeds -your records
- Cost basis - expenses of the sale such as surveying, etc.
The timber sale will be recorded in your tax return. Here is very useful information about determining your expenses and how to determine the cost basis for a timber sale. See Pages 3 to 11.
@dbranson
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