That makes no sense to me. I hold timber property as an investment not as rental property or a trade or business. Currently the software will allow me to take more than $10,000 as a deduction without indicating that the amount is incorrect. The software should limit the amount to $10,000 and automatically amortize the difference. Why am I paying turbotax to calculate my taxes if the software won't do the calculations? Do I now have to include a schedule C with no income and only an amortization expense or does the amortization carry over to the schedule 1 where it should be?
