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Level 2
March 2, 2021
Question

on what form do i report a 1099-s for the sale of timber

  • March 2, 2021
  • 3 replies
  • 24 views

My client sold timber off her land and received a 1099-S. On what form do I report this sale? Box 3 shows timber royalties. 

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3 replies

dkh
Level 15
March 2, 2021

Open Schedule D , select 1099B Quickzoom to get to the worksheet you need

Level 2
March 2, 2021

Thank you for your reply. I'm in the 1099-B worksheet and still can't find a link to a 1099-S to fill out. Do I just enter this as a long term capital gain?

dkh
Level 15
March 2, 2021

Doubt there is a link specifically for 1099-S but Schedule D is where you want to be    this might help you determine how to enter  https://www.irs.gov/pub/irs-pdf/i1099s.pdf