USA capital gains tax on timber
dstaples at livingston.net
Mon Nov 17 10:43:49 EST 1997
Joseph Zorzin wrote:
> Taxes is NOT one of my favorite subjects and I don't know anywhere near
> as much as I should. The subject seldom comes up in my work, but in my
> recent timber sale, the landowner said he'll consider a capital gains
> treatment of the profits.
> I know that I'll have to come up with an estimate of the value of the
> timber when he bought the property.
> But I vaguely seem to recall that there was a major overhaul of capital
> gains treatment on timber recently. Was it done away with?
> So, what's the scoop? Der Forestmeister is in the dark on this one.
It's back, it's different, get an accountant to work your client, I am
as confused as you, and I took a short course!
My Ego Stroke: http://www.livingston.net/dstaples/
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