turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

wh99_user
New Member

1099-S timber sales reporting glitch

When I click on Other (1099-S), the software takes me to 1099-B type reporting. Is this a bug in the software?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DavidD66
Employee Tax Expert

1099-S timber sales reporting glitch

No, it's not a bug.  Timber sales are typically reported as capital gains on Form 8949 and Schedule D if held as an investment, or as ordinary income on Schedule F for farmers/business inventory.  To report timber sales as a capital gain you report them the same way you would gains/losses reported on Form 1099-B - that's why the software takes you to 1099-B type reporting.  For step-by-step instructions on how to enter your timber sales click on the following link:  Where do I enter income from a timber sale? 

 

For information on the taxation of timber sales see https://www.timbertax.org/

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question