Tax Treatment of Timber

The National Timber Tax Website was developed to be used by timberland owners, as well as a reference for accountants, attorneys, consulting foresters and other professionals who work with timberland owners regarding the tax treatment of timber related activities.

New Developments

Income Tax Deduction on Timber and Landscape Trees Loss from Casualty
October 2018

Timber or urban landscape trees destructed by the hurricanes and fires may be tax deductible as a "casualty loss".

Brand new tax law changes that Congress passed in December 2017 affect the casualty loss deductions, starting in the 2018 tax year.

For the taxpayers who are affected by Hurricane Harvey, Irma and Maria, a September 2017 tax law provided tax relief, making it less restrictive to write off eligible hurricane losses.

To help timber owners as well as home owners who suffered timber or landscape tree damages with their tax reporting, this article explains the specific tax issues for timber and landscape tree losses from casualty events, including the new tax law changes affecting the 2018 tax filing.
November 2017
November 2017
2018 Farm Credit System Bank Interest Rates
Interest Rates for Previous Years Available Here
October 2018
Originally published in National Woodlands magazine, Winter 2017
Estate and Gift Taxes
October 2016
Newly Revised (December 2013) Form T
Instructions for Newly Revised (December 2013) Form T Available Here
January, 2014
Forest Landowners Guide to the Federal Income Tax
February, 2013
Estate Planning for Forest Landowners: What Will Become of Your Timberland
February, 2013
Federal Income Tax on Timber: A Quick Guide for Woodland Owners (October 2012)
January 4, 2013