Reporting Timber Harvest Depletion

[156church]

How do I report forest timber depletion?

I believe depletion should be reported on IRS Form T, but TurboTax doesn't include a Form T in its software.

For example, my forester estimated the cost basis of our forest to be $x and the depletion of one year's harvest of $y. How do I report the depletion amount using TurboTax?

[Critter-3]

Don't think you can unless you make direct form entries using the Downloaded version and the return will have to be mailed in to attach the Form T  and the accuracy guarantee will be voided. 

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-income-from-a-timber-sale...

[156church]

I report timber harvest sales on Schedule F - Profit or Loss from Farming. Where in TurbuTax do I report forest depletion based on the amount of timber harvested?

[Critter-3]

Ok ... timber sales usually are not reported on a Sch F (not the same thing as form F) unless you are raising trees for sale or fruit trees which is why you cannot find depletion in that section  ... so if you want to enter depletion you will need to make a misc entry expense  ...

 

[156church]

If Schedule F - Profit or Loss from Farming is NOT the place to report timber harvesting income, where do I report it?

[Critter-3]

Sch E ... royalties ...