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Can I Deduct Forest Management Costs on My Income Taxes?


Landowners may have a variety of costs in managing their woodlots and forests for timber. One category of costs can be labeled management costs and includes what accountants refer to as operating expenses and carrying charges. These are costs for taking care of, improving or holding the timber stand between the time of stand establishment and sale. Management costs can be burdensome for many private landowners as they are borne before any income is received. Fortunately, costs associated with managing your forest for timber production may be deducted from your taxable income under the circumstances outlined below. Costs for acquiring or planting the stand are not management costs but are considered to be capital costs. See Forestry Fact Sheet #1 for how to handle capital costs on your income tax. Costs to mark the timber or measure its volume in order to sell timber are sales costs and are deducted from taxable income at the time of the sale.

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