Sale of timber from inherited land

[Fox22]

Sold for timber from inherited land with no cost.  Taxable income 34,408. Why Turbo tax show 0 federal tax?

[SusanY1]

Timber is taxed at capital gains tax rates for most taxpayers, and for taxpayers in certain tax brackets, the tax rate on long-term capital gains is currently 0%.  

If $34,408 is your total income, including the sale of the timber, you will qualify for the 0% capital gains tax rate, at any filing status.  If you are filing a joint tax return with a spouse your total income can be as much as $78,750 and you will still pay no capital gains tax.

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