Timber income is reported in the investment section. In the search box, search for investment sales then select the Jump to link in the search results. Answer Yes to the question Did you sell stocks, mutual funds, bonds, or other investments in 2019? On the Choose the type of investment you sold screen, you'll want to select Everything else, located at the bottom of the screen. For your cost basis, most people will enter a 0, but you could enter what you originally paid for the seedlings or saplings.

Question

I received NR4 for sale of timber on Canada property owned for 45 years. Income code on NR4 is 38.This is only time have sold timber on property. How to report on 1099?

Forum|Forum|6 years ago
March 7, 2020
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TurboTax Deluxe Online

RobertG

Timber income is reported in the investment section.

In the search box, search for investment sales then select the Jump to link in the search results.
Answer Yes to the question Did you sell stocks, mutual funds, bonds, or other investments in 2019?

On the Choose the type of investment you sold screen, you'll want to select Everything else, located at the bottom of the screen.

For your cost basis, most people will enter a 0, but you could enter what you originally paid for the seedlings or saplings.

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