Forest Service Shield
homeU.S. Department of Agriculture
Forest Service
Northeastern Area State and Private Forestry
forest stewardship theme art Forest Matters
Stewardship News orange leaf
December 2018
Quick Links

A person stands on a walkway looking at a lake and scenic forest.
2018 Tax Information for
Forest Landowners
To Forest Landowners and Tax Preparers in the Forest Stewardship Community,

We offer this special edition of Forest Matters Stewardship News to share some important information about income tax deductions on timber and landscape tree losses as the 2018 tax year comes to a close.

Please look for our Winter 2019 issue of Forest Matters in February.
forest stewardship theme art
Webinar:
Casualty Loss and Income Tax Deductions Related to Timber and Landscape Trees

Presenter: Dr. Linda Wang, National Timber Tax Specialist, U.S. Forest Service

Friday, December 7, 2018
1:00 - 2:00 pm Eastern

Timber or landscape trees destroyed by recent fires, hurricanes, or other storms are "casualty losses" that may allow property owners to take a deduction on their Federal income tax returns. To help timber owners as well as homeowners who suffered timber or landscape tree damage with their tax reporting, this webinar will focus on the new tax law changes that Congress passed in 2017 that affect the casualty loss deductions starting in the 2018 tax year.

Webinar Information 

To join the webinar, go to the webinar website and click on the "How to join the webinar?" link just below the green banner heading.

Pre-registration is not required.

For more information about tax treatment of timber, visit the National Timber Tax Website.
Timber and Taxes:
Income Tax Deduction on Timber and Landscape Tree Loss from Casualty

Dr. Linda Wang, National Timber Tax Specialist with the U.S. Forest Service, shares information about Income Tax Deduction on Timber and Landscape Tree Loss from Casualty. This article provides guidelines for tax deduction issues, including the new tax law changes affecting the 2018 tax year.

According to Dr. Wang, timber or landscape trees destroyed by hurricanes, fires, earthquakes, ice and hail storms, tornadoes, and other storms are "casualty losses" that may allow you as a property owner to take a deduction on your Federal income tax return. The key for most cases is to figure out the "adjusted basis" of the timber.

For more information about tax treatment of timber, visit the National Timber Tax website.
2018 Tax Tips Bulletin Available

Dr. Linda Wang, National Timber Tax Specialist with the U.S. Forest Service, has finalized Tax Tips for Forest Landowners for the 2018 Tax Year. The Federal income tax provisions that apply to timber have changed for the 2018 tax year from the December 2017 new tax legislation. To help family timber owners, foresters, and their tax preparers in filing their 2018 tax returns, this bulletin provides income tax guidance that is current as of September 30, 2018.