We sold timber off property that has been in the family and gifted down through the generations for 200 years; how do I establish fair market value of the timber?

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We sold timber off property that has been in the family and gifted down through the generations for 200 years; how do I establish fair market value of the timber?

If you sold the timber in an "arms length transaction" then that amount would be the fair market value of the timber. For more information, see the following web site: https://www.timbertax.org/getstarted/sales/

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We sold timber off property that has been in the family and gifted down through the generations for 200 years; how do I establish fair market value of the timber?

If you sold the timber in an "arms length transaction" then that amount would be the fair market value of the timber. For more information, see the following web site: https://www.timbertax.org/getstarted/sales/

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