- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How to report Timber Sales on an LLC
Looking for some guidance.. I share an LLC with my brother. We were gifted some timber land from our late step mother's estate in late 2023. We sold the timber in early 2024. We have a substitute 1099-S form from the buyers of the timber rights (it will be cut this year). I've searched forums and they all say to search for investment sales but I can't find that in the Turbo Tax business. I can find Capital Gains and Losses under investment income but none of the categories fit. The primary business of the LLC is rental property. Have I missed something or put something in wrong?
Thanks for any help.
Topics:
March 30, 2025
1:39 PM