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Quality Deer Management
White oak log prices
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<blockquote data-quote="treefarmer" data-source="post: 4137321" data-attributes="member: 10041"><p>My mistake, make sure you do like Pass-thru said and claim the timber income as a capital gain. Basically when you bought or inherited the property the value (basis) was part land and part timber. When you sell the timber you only pay the difference between what you paid/received for the timber and what you sold it for. Even if you don't know what it was worth back then it is still a capital gain which is taxed at a lower rate. A good source of info. for this is <a href="http://www.timbertax.org/" target="_blank">http://www.timbertax.org/</a></p></blockquote><p></p>
[QUOTE="treefarmer, post: 4137321, member: 10041"] My mistake, make sure you do like Pass-thru said and claim the timber income as a capital gain. Basically when you bought or inherited the property the value (basis) was part land and part timber. When you sell the timber you only pay the difference between what you paid/received for the timber and what you sold it for. Even if you don't know what it was worth back then it is still a capital gain which is taxed at a lower rate. A good source of info. for this is [url=http://www.timbertax.org/]http://www.timbertax.org/[/url] [/QUOTE]
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