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kimd1098
Returning Member

Timber - what kind of income do i have

I am in the forestry business and own timberland. I also buy timber from cutters who bring it to me. I sell the cut timber from my lands and the timber I buy from the timber cutters to large paper/pulp mill companies.

 

I buy timber from independent workers who go out and cut timber for me and who also on their own sell me the timber they have cut as well.

 

I was wondering what kind of income do i have?

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1 Reply
TomD8
Level 15

Timber - what kind of income do i have

Suggest you read "Timber Sales & Income" on this website:  https://www.timbertax.org/getstarted/

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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