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The National Timber Tax Website outlines three basic ways that income can be realized from the ownership of timber property.  I assume that you do not maintain a farm or produce timber as a business.  You simply disposed of standing timber.   You may receive ordinary income from rent for use of the property itself or from other services that the property produces such as hunting leases or payments from other recreational activities. You may receive ordinary income from the sale of logs, lumber, or other products you produce from the timber itself. You may also have ordinary income from the sale of non-timber forest products such as medicinal plants, moss, and ferns. You may receive income from the disposal of standing timber (stumpage), or by cutting the timber and electing to "treat the cutting as a sale". In the case of items 1 and 2 above the income is treated as ordinary income. In the case of item 3 above the income may qualify for capital gains treatment, and as such may be taxed at a lower rate than your ordinary income.   If your situation is explained by option (3), the sale would qualify for capital gains treatment.   In TurboTax Premium Online, follow these steps.   Down the left side of the screen, click Federal. Down the left side of the screen, click Wages & Income. Click the down arrow to the right of Investments and Savings. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B). Click Add investments. On the Save time and connect your financial accounts screen, select Enter a different way. On the How do you want to add your docs? screen, select Type it in myself. On the OK, let's start with one investment type screen, select Other, then Continue. At the screen Tell us more about this sale, enter the information.  Click Continue. On the screen Now, enter one sale, enter the sale information. Under What type of investment did you sell, enter Other. Select Continue. At the screen Review your sales, you may Add another sale or click Continue.