DrRod
Platinum Member
- Joined
- Apr 25, 2005
- Messages
- 881
- Tractor
- John Deere 4110
We cut about nine acres of pine timber last year and now need to address the tax side of it. It is clearly eligible for capital gains treatment but we don't know was the basis should be. We inherited the land and the last time any money changed hands for the property was around 1850. Anyone have any experience with a situation like this or even some unfounded advice? All thoughts appreciated.