Consultant fee for timber sale

mamorphy · ‎June 5, 2019

I received a 1099-S for a timber sale. Can I deduct the cost of a timber consultant we used to help with the sale. If yes, how do I enter the expense?

MinhT · ‎June 5, 2019

Even if you receive form 1099-S for your timber sale, you report this as an investment sale. In the investment sale interview of TurboTax, you will enter Net proceeds which would be your gross sales reported on your form 1099-S minus the cost of the consultant.

Please read this TurboTax FAQ for more detailed instructions:

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

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View solution in original post

MinhT · ‎June 5, 2019

Even if you receive form 1099-S for your timber sale, you report this as an investment sale. In the investment sale interview of TurboTax, you will enter Net proceeds which would be your gross sales reported on your form 1099-S minus the cost of the consultant.

Please read this TurboTax FAQ for more detailed instructions:

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

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"