PUBLICATION PB1691
Setting Up the Books: A Forest Owner's Guide to Capital Accounts and Record-Keeping for Federal Income Tax Purposes
If you have questions about this resource, contact your county Extension office.
Summary
Forest owners can take advantage of federal income tax incentives by growing timber, which can be considered a capital asset. Income from sales is taxed at capital gains rates, while investments can be recovered through depletion deductions and reforestation expenses.
Harvested for You
Based on the subjects and categories of this publication, you may be interested in the following resources.
The Economic Impact of Tennessee Forest Product Exports in 2024
2023 Tennessee Ag and Forest Stats - Full Report
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