1099-S, Sold timber to lumber mill. How to file?

    Instructions for Form 1099-S
    " Timber. Report on Form 1099-S payments of timber royalties made under a pay-as-cut contract, reportable under section 6050N. For more information, see Announcement 90-129, 1990-48 I.R.B. 10."
    The Announcement " In the case of timber, royalties usually are reportable as sales proceeds on Form 4797, Sales of Business Property, and may receive capital gain treatment. "
      You report your timber sale at

      Federal Taxes (Personal if using Home and Business)
      Wages & Income
      explore on my own
      Investment Income
      Stocks, Mutual Funds, Bonds, Other        click start or update
      • I tried this, however when the screens came up, the reference was for a 1099-"B" (not 1099-"S");  will this mess things up ?
      • This does not work with Deluxe 2013
      • The original question and answer are two years old. The online version of Turbotax  interface changed considerably for 2013

      I called the 888 number and she needed time to figure this out, should have answer in a few hours will post when get e-mail
        I agree with Jerry2000.  That is how I filed.  Also, on the IRS website it says that if you received a 1099 Misc to ask for a 1099-B.  This would also apply, I assume, if you received a 1099-S.  You could call the 800 IRS number and see if it would be ok to leave it as it is and just not enter the 1099-S but enter the amount on the investment schedule.
        • Found out that if you sell land and timber a 1099B is required; otherwise if you just sell timber a 1099 misc is ok.
        • I have been using turbo tax Premier since 2008 and was audited for 2009 because of how the software figured my pension payment amount to be taxed. However, they use false advertisement when it mentions free tax audit help. The free help came from me. I answered the IRS letter and mailed in copies of the tax return along with my pension payments for medical insurance.  

          In addition, I am unable to get an answer for timber sold; where to file the 1099-S, therefore, to avoid another audit I better call the IRS and ask them how to file. I will use H & R Block next year.
        • I agree.  Very disappointed with Turbo Tax.
        go to business section explore on your own ,go to rentals and roylaties, answer questions click roylaties in drop down list, enter information and in a spot it  has timber in the list. depleation I put o since I had no real cost in it
        • I'm using the "Premier" edition of Turbo Tax, not "Home and Business."  I'm still having trouble finding how to enter 1099-S income from sale of timber.  Any other suggestions?
        • NOTE: what got me was it is  a royolties so I was always looking in the wrong spot.

          I guess ask turbo tax, go to the answer center and call them frist you contact them on line and it will give you a number to call after a incident number  they got to me fast on the phone
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