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Level 2

Question

woodlot as a business

Forum|Forum|2 years ago
October 25, 2023
2 replies
18 views

I own a 20 acre woodlot and I have a management plan with the UDSA/NRCS. Can I run this woodlot as a small business?

TurboTax Live Deluxe Online

Level 15

What kind of business? Do you materially participate in the operations?

Pat114Author

Level 2

I plan to sell small amounts of timber for lumber but anticipate that it could be some time between harvests as is typical for managing a woods. I'll incur expenses clearing invasive species, doing timber management such as thinning, removing poorly formed trees, driving to and from home to the woodlot (32 miles one way). I am working with a forester and UDSA/NCRS on following a management plan.

Thank you for your response.

Pat