Timber Income and Expenses: Business or Investor Income Tax Reporting? What a Tax Professional Needs to Know
N.C. Cooperative Extension Wake County Center 4001-E Carya Drive, Agriculture Building, Suite E, Raleigh, NC, United StatesCombining lecture, example problems, discussion and questions, this half-day workshop is appropriate for all levels of experience. Discussion will address timber tax issues, including: What is timber for income tax purposes? Basis Reporting of income: business versus investor Expense deduction: business versus investor Form T Like-kind exchange Conservation easements Carbon credits Property tax considerations No advanced preparation is...