Can I assign a portion of the cost of land purchased in 1986 as basis in the sale of standing timber sold in 2020?

[-john_q_public]

Purchased 107 acres land in 1986.  Area timbered in 2021 around 5 acres.

[MarilynG1]

For your cost basis, most people will enter a 0, but you could enter what you originally paid for the seedlings or saplings.

For complete instructions on how to enter this in TurboTax:

https://ttlc.intuit.com/replies/4790586