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05/24/2012 at 04:51PM PDT
Important Announcement! A planned system-wide upgrade will take place over the Memorial Day Weekend in the US (From Thurs, May 24, 2012 at 6 pm PDT thru Tues, May 29, 2012 at 5 am PDT). This includes QuickBooks, QuickBooks Payroll, Point of Sale, & Salesforce.com. This is only for US based products. This does not affect QuickBooks Online customers! During this time, you can shop, but can’t place orders online, activate products or update account info. We apologize for the inconvenience & thank you for patience while we improve our infrastructure to better serve you. International versions are unaffected. For more info, see our community discussion.
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taxguy623
taxguy623
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taxguy623
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02/11/12 11:12am PST
Viewed by asker 02/12/12 3:34am PST

Timber sales-short term cap gain ?

ProSeries : 2011

owner only purchased months before selling timber cutting

treat as short term capital gain?

interesting web w/calculalorhttp://www.timbertax.org/

 

generally basis is not worth figuring--any difference with it being short term--i do have itemized appraisal with woodland acres but not timber appraissal

 



 

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taxguy623
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02/11/12 6:55pm PST
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okey dokey--after red meat and wine--things are clearer--plus OSU lost so my mood is better

no timbervalue in appraisal--woodland value less than ag value---so no basis--short term gain

 

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