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

Tax Tips for Forest Landowners - 2023 Tax Year (PDF)
January 2023
Timber Tax Website Survey
Help us serve your Timber Tax needs better! Please share your feedback so we can improve.

Timber Tax Webinar Education Series
Visit our timber tax education channel to learn about our upcoming interactive webinars and to view our on-demand webinars presented by Tax Professionals and National Timber Tax Specialists.
Here are a few of the latest webinars available on-demand now:
  • Coping with losses from nature and chance (Forestry Tax Series)
  • Keeping more of your timber income following a timber sale
  • Timber management expenses and deductions
  • Basics of timber basis: re(setting) the table (forestry tax series)
  • Policy Updates from Washington, DC impacting private forest ownership & management

Income Tax Deduction on Timber and Landscape Trees Loss from Casualty (PDF)
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.
State Property Tax Incentives for Promoting Ecosystem Goods and Services from Private Forest Land in the United States: A Review and Analysis
November 2017
2023 Farm Credit System Bank Interest Rates (PDF)
Interest Rates for Previous Years Available Here
Tax Reform Issues for Forest Landowners And the Forest Products Industry
Originally published in National Woodlands magazine, Winter 2017 www.nwoa.net
Estate and Gift Taxes (PDF)
October 2016
Newly Revised (December 2013) Form T (PDF)
Instructions for Newly Revised (December 2013) Form T Available Here
January, 2014
Forest Landowners Guide to the Federal Income Tax (PDF)
February, 2013
Estate Planning for Forest Landowners: What Will Become of Your Timberland (PDF)
February, 2013
Federal Income Tax on Timber: A Quick Guide for Woodland Owners (PDF) (October 2012)
January 4, 2013
More...
 

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