What information must be reported for each qualified timber property (QTP)?

For each qualified timber property, report the account, block, tract, area or stand identification number, the kind of activity, the number of acres treated, and the total expenditures.

What is the maximum amount of reforestation expenses that can be claimed on line 4a for any tax year?

The aggregate amount of reforestation expenses which can be claimed on line 4a for any tax year cannot exceed $10,000 ($5,000 if filing status is married filing separately) for each qualified timber property.

What happens to remaining reforestation costs after the limit is reached?

The remaining costs can be amortized over an 84-month period using the half-year convention under section 194(a).

What is a qualified timber property (QTP)?

A qualified timber property is any land, including water, on which trees or other forest growth is or has been planted, cultivated, or growing under the supervision of an experienced forester. The QTP must be used primarily for raising trees or other forest growth for marketable timber.

What are qualifying reforestation expenses under section 194(b)?

Qualifying reforestation expenses include costs for the preparation of the site, seeds or seedlings, labor and tools, including depreciation of equipment used in planting or seeding.

What expenses are reported in Part V of Form 1040, Schedule I?

Part V of Form 1040, Schedule I is used to report changes in land account including sales or exchanges.

Form T (Timber)

Fill out this form

Create Web Form

Forest Activities Schedule

Rev. December 2013

These instructions explain how to complete Form T (Timber), which is used to report profit or loss from timber sales, reforestation activities, and land ownership changes. The form requires information about the location of the property, sales details, reforestation expenses, and land ownership transactions.

Instructions

Form T Instructions - Instructions for Form T (Timber), Forest Activities Schedule

Search tags

FAQ

What information must be reported for each qualified timber property (QTP)?
For each qualified timber property, report the account, block, tract, area or stand identification number, the kind of activity, the number of acres treated, and the total expenditures.
What is the maximum amount of reforestation expenses that can be claimed on line 4a for any tax year?
The aggregate amount of reforestation expenses which can be claimed on line 4a for any tax year cannot exceed $10,000 ($5,000 if filing status is married filing separately) for each qualified timber property.
What happens to remaining reforestation costs after the limit is reached?
The remaining costs can be amortized over an 84-month period using the half-year convention under section 194(a).
What is a qualified timber property (QTP)?
A qualified timber property is any land, including water, on which trees or other forest growth is or has been planted, cultivated, or growing under the supervision of an experienced forester. The QTP must be used primarily for raising trees or other forest growth for marketable timber.
What are qualifying reforestation expenses under section 194(b)?
Qualifying reforestation expenses include costs for the preparation of the site, seeds or seedlings, labor and tools, including depreciation of equipment used in planting or seeding.
What expenses are reported in Part V of Form 1040, Schedule I?
Part V of Form 1040, Schedule I is used to report changes in land account including sales or exchanges.

HOW TO

How to fill out Form T (Timber) for free, online in 3 easy steps:

1
Open form template in editor
Click on the “Get this template” button.
2
Fill out Form T (Timber)
Wait a moment and you will be redirected to our online PDF Filler app.
3
Download file
Download your completed Form T (Timber) for free. You can also save it to a cloud storage.

ABOUT

Federal tax forms

Form T (Timber) is one of Federal tax forms that are documents used to report and file federal income taxes with the Internal Revenue Service (IRS) in the United States. These forms are used by individuals, businesses, and organizations to report their income, deductions, and other relevant information necessary for calculating their federal tax liability.

The most commonly used federal tax form is the Form 1040, which is used by individual taxpayers to report their personal income tax. Other commonly used forms include the Form 1065 for partnerships, Form 1120 for corporations, and Form 990 for tax-exempt organizations.

Federal tax forms typically require taxpayers to report various sources of income, such as wages, salaries, and tips, as well as income from investments, rental properties, and other sources. The forms also allow taxpayers to claim deductions and credits for various expenses, such as charitable contributions, mortgage interest, and healthcare expenses.

It is important to file federal tax forms accurately and on time, as failure to do so can result in penalties and interest charges from the IRS.

FEATURES

PDF Filler

The easiest way to fill Form T (Timber) online

Quickly fill out Form T (Timber)
Looking for a way to quickly fill Form T (Timber) online? With our online free PDF form filler, you’ll know how to how to edit and fill this pdf document in less than a minute.
Easy to use online PDF editor
Fed up with printing out PDF files so you can edit them, before rescanning and sending them back? Edit PDF documents for free online. Use our online pdf editor to save time and paper.
Great tools, all platforms
Wondering how to fill in Form T (Timber) on a Mac, or maybe how to use a PDF filler free? Our online PDF tools work on all platforms.
Secure file storage
Completed "Form T (Timber)" files are stored in a secured database managed by Amazon Cloud hosting. You can delete your files from our system anytime. In any case, these files are automatically deleted after 24 hours.
Chat with Form T (Timber)
Chat with "Form T (Timber)" on Chatize that is a free PDF reader assistant. Ask questions and get answers from "Form T (Timber)". Just click on Chat With Document button above.

Products

Docs

Websites

About