topic Where to I enter the funds I made from the sell of standing timber that was sold from my property? I know this income is considered long term capital gains. in Deductions & credits

Where to I enter the funds I made from the sell of standing timber that was sold from my property? I know this income is considered long term capital gains.

John-Wayne3 — Mon, 09 Mar 2026 09:04:22 GMT

DoninGA — Sat, 05 Mar 2022 13:28:35 GMT

ColeenD3 — Sat, 05 Mar 2022 13:31:15 GMT

To report the sale of timber, please follow these steps.

Open or continue your return
In the search box, search for sold second home and select the Jump to link
Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2021? screen
- If you land on the Your investment sales summary screen, select Add More Sales
On the OK, let's start with one investment type screen, select Other, then Continue
On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale
On the next screen, select Second Home (choose this also for inherited homes) or Land and answer the questions to finish entering your sale or Timber.

Hal_Al — Sat, 05 Mar 2022 13:44:02 GMT

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)

- Wages & Income

Scroll down to:

-Investment Income

-Stocks, mutual funds, Bonds, Other (Timber is other)

Select "No financial institution". Cost basis for timber is usually zero. Timber basis is not the cost of the property. For a discussion on Timber Basis, see https://www.extension.purdue.edu/extmedia/FNR/FNR_FAQ_2.pdf