Tax Considerations for Forest Landowners. Mike Jacobson School of Forest Resources Penn State Nov 11, 2008 PSU Webinar. Facts. Taxes are a major cost of doing business Proper tax planning is every bit as important as the silvicultural techniques used to grow profitable forest crops.
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School of Forest Resources
Nov 11, 2008
Usually results in a “step-up” in basis
Tests for material participation
Both the amount and type of income received are important
How disposed of:
Communication is the key:
Year of Death Applicable Exclusion
2010 tax repealed
(but carry over basis)