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maggie2
New Member

Where do I enter expenses incurred from a timber sale?

I have entered the income in the investment section for a long term gain.  There are expenses such as road improvement, clean up, replanting.  Where do I enter those expenses?
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Accepted Solutions
NancyG
New Member

Where do I enter expenses incurred from a timber sale?

Those expenses would be added to your cost to become part of your cost/basis and reduce your capital gain from the sale.

Click this link for further information about determining your basis TimberTax - Determine Your Basis

Click this link for further information about reporting the sale of a capital asset

View solution in original post

1 Reply
NancyG
New Member

Where do I enter expenses incurred from a timber sale?

Those expenses would be added to your cost to become part of your cost/basis and reduce your capital gain from the sale.

Click this link for further information about determining your basis TimberTax - Determine Your Basis

Click this link for further information about reporting the sale of a capital asset

View solution in original post

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