- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
We sold logs off our property. It was bare land, so we needed to put in a road. Can we deduct the costs of putting in the road to access the trees?
Topics:
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
We sold logs off our property. It was bare land, so we needed to put in a road. Can we deduct the costs of putting in the road to access the trees?
Yes, you can add the cost of the road improvement to your Cost Basis when you report the sale of the timber in TurboTax.
Click this link for more info on How to Enter Income from a Timber Sale.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
We sold logs off our property. It was bare land, so we needed to put in a road. Can we deduct the costs of putting in the road to access the trees?
Yes, you can add the cost of the road improvement to your Cost Basis when you report the sale of the timber in TurboTax.
Click this link for more info on How to Enter Income from a Timber Sale.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?
Make a post
Or browse the Forums