 |
|
|
Find out about everything from income tax to gift taxes.
A calendar to help you stay on top of those tax dates.
Frequently Asked Questions about tax issues.
Related web sites containing tax information.
Question? Need help? Send us a note!
|
Q : My farm has a few large oak and walnut trees that a timber harvester has offered a lump-sum payment of $20,000 for the trees - will this be ordinary farm income? A : The American Jobs Creation Act of 2004 changed the rules regarding timber sales. Effective for sales after 2004, the Act applies capital gains treatment to outright sales of timber by a landowner - whether the sale is a lump-sum or an economic interest is retained. |
|
|
|
|
Information provided by:
Parman R. Green, Ag Business Management Specialist 111 N. Mason Carrollton, MO 64633 Phone: 660-542-1792 Email: GreenP@missouri.edu
|
Date reviewed: April 2001
|
|
Site maintained by people at AgEBB at the University of Missouri-Columbia. |
|