Timber Income Tax - Following the 2012 Tax Act

November 13, 2013

7:30 am – Registration

8:00 am – Noon (Session I)

• 2012 Tax Act and the management implications for forest

     management

• Capitalization of forestry assets illustrated with a practical example and recovery of invested capital through depletion

• Form T (Timber) and options for ledger accounts

10:00-10:15 am Break

• Depreciation with MACRS including bonus and the Section 179 business deduction

• Forestry operating, management and protection expenses including the Passive Activity Loss (PALs) Rules
  

12:00 – Lunch

1:00pm – 5:00pm (Session II)

• Capital gains for timber sale revenue and other

timber-related Income

• Exclusion of cost-share payments under IRC Section 126

3:00-3:15 Break

• Tax-free like-kind exchanges under IRC Section 1031

• Casualties, thefts, condemnations, and involuntary losses with options to purchase replacement assets under Section 1033
  

5:30 Adjourn