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Tax Workshop for Landowners & Their Foresters, Accountants, & Attorneys - Eufaula (6.5 PLM)
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9/14/2017
When: Thursday, September 14, 2017
8:00 AM
Where: Extension Office
525 School Street
Eufaula, Alabama 
United States
Contact: Allie Corcoran
334-687-5788

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8:00 – 8:30 a.m.Registration8:30 – 10:00 a.m.

  • Hobby, Investment or Business
  • Acquiring timberland and determining basis
  • Allocation of basis between land and timber
  • Timber accounts
  • Form T, Part I
10:00 – 10:15 a.m.Break10:15 – 11:45 a.m.
  • Calculating depletion allowance
  • Form T, Part II
  • Reporting timber sales
  • Qualification for capital gains treatment
  • Form T, Part III and Form 4797
11:45 – 12:45 p.m.Lunch12:45 – 2:15 p.m.
  • Tax treatment for site preparation and planting, fertilization, surveys, roads consulting foresters, etc.
  • Form T, Part IV
2:15 – 2:30 p.m.Break2:30 – 4:30 p.m.
  • Casualty losses
  • Passive activity, sale and exchange of land and 1031 exchanges

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