Use Tax Form t-timber: Form T (Timber)Forest Activities Schedule as a stand alone tax form calculator to quickly calculate specific amounts for your 2025 tax return. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.
Forest Activities Schedule Name(s) as shown on return Identifying number Part I Acquisitions 1 Name of block and title of account 2 Location of property (by legal subdivisions or map surveys) 3a Name and address of seller or person from whom property was acquired b Date acquired 4 Amount paid: a In cash b In interest-bearing notes c In non-interest-bearing notes 5a Amount of other consideration b Explain the nature of other consideration and how you determined the amount shown on line 5a. 6 Legal expenses 7 Cruising, surveying, and other acquisition expenses 8 Total cost or other basis of property. Add lines 4a through 7 9 Allocation of total cost or other basis on books: Unit Number of units Cost or other basis per unit Total cost or other basis a Forested land Acre b Other unimproved land Acre c Improved land (describe) ▸ Acre d Merchantable timber. Estimate the quantity e Premerchantable timber. Make an allocation here f Improvements (list separately) g Mineral rights h Total cost or other basis (same amount as line 8). Add lines 9a through 9g Part II Timber Depletion (see instructions) 1 Name of block and title of account ▸ If you express timber quantity in thousand board feet (MBF), log scale, name the log rule used. If another unit of measure is used, provide details ▸ (a) (b) 2 Estimated quantity of timber and cost or other basis returnable through depletion at end of the preceding tax year 3 Increase or decrease of quantity of timber required by way of correction 4a Addition for growth (number of years covered ▸ b Transfers from premerchantable timber account c Transfers from deferred reforestation account 5 Timber acquired during tax year 6 Addition to capital during tax year 7 Total at end of tax year, before depletion. Add lines 2 through 6 8 Unit rate returnable through depletion, or basis of sales or losses. Divide line 7, column (b), by line 7, column (a) 9 Quantity of timber cut during tax year 10 Depletion for the current tax year. Multiply line 8 by line 9 11 Quantity of standing timber sold or otherwise disposed of during tax year 12 Allowable as basis of sale. Multiply line 8 by line 11 13 Quantity of standing timber lost by fire or other cause during tax year 14 Allowable basis of loss plus any excess amount where decrease in FMV (before and after the casualty) exceeds the standard depletion amount, but not the block basis (see instructions) 15 Total reductions during tax year: a In column (a), add lines 9, 11, and 13 b In column (b), add lines 10, 12, and 14 16 Net quantity and value at end of tax year. In column (a), subtract line 15a from line 7. In column (b), subtract line 15b from line 7 17 Quantity of cut timber that was sold as logs or other rough products 18 Section 631(a): a Are you electing, or have you made an election in a prior tax year that is in effect, to report gains or losses from the cutting of timber under section 631(a)? (see instructions) b Are you revoking your section 631(a) election (see instructions)? Part III Profit or Loss From Land and Timber Sales (see instructions) 1 Name of block and title of account 2 Location of property (by legal subdivisions or map surveys) 3a Purchaser’s name and address b Date of sale 4 Amount paid: a In cash b In interest-bearing notes c In non-interest-bearing notes 5a Amount of other consideration b Explain the nature of other consideration and how you determined the amount shown on line 5a. 6 Total amount received for property. Add lines 4a, 4b, 4c, and 5a 7 Cost or other basis of property: Unit Number of units Cost or other basis per unit Total cost or other basis a Forested land Acre b Nonforested land Acre c Improved land (describe) ▸ Acre d Merchantable timber. Estimate in detail the quantity of merchantable timber on the date of sale or exchange. Include the quantity of timber in each species of timber by diameter at breast height (DBH) classes. State the log rule used if the unit of measure is thousand board feet (MBF), log scale. If another unit of measure is used, provide details. ▸ e Premerchantable timber f Improvements (list separately) g Mineral rights h Total cost or other basis. Add lines 7a through 7g i Direct sale expenses (cruising, marking, selling) 8 Profit or loss. Subtract the sum of lines 7h and 7i from line 6 Part IV Reforestation and Timber Stand Activities (see instructions) Account, block, tract, area, or stand ID for each Qualified Timber Property (QTP) Kind of activity (burning, chopping, spraying, planting, seeding, thinning, pruning, fertilizing, etc.) Number of acres treated Total expenditures 1 2 Total 3 Total reforestation expenses 4a Amount to be expensed under section 194(b). b Amount to be amortized under IRC 194(a), including remaining reforestation expenditures not expensed under section 194(b) Part V Land Ownership Show all changes in land accounts. Attach as many additional sheets as needed, following the format of lines 1 through 6. 1 Name of block and title of account ▸ Acres Total cost or other basis. Give amount of March 1, 1913 appreciation, if included Average rate per acre 2 Balance at beginning of year 3 Acquisitions during year 4 Sales during year 5 Other changes 6 Balance at end of year. Add lines 2 and 3, subtract line 4 and add or subtract line 5 Additional Information.