MarBecher
New Member

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.