Form T (Timber) Forest Activities Schedules

Form

T (Timber)

Forest Activities Schedule
䊳

(Rev. December 2005)
Department of the Treasury
Internal Revenue Service

Attach to your tax return.

䊳

OMB No. 1545-0007

See separate instructions.

For tax year ending

, 20

Attachment
Sequence No.

.

Name(s) as shown on return

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

4

117

Identifying number

b Date acquired

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:

Number of units

Cost or other
basis per unit

Total cost or other basis

Acre
Acre

a Forested land
b Other unimproved land
c Improved land (describe)

Unit

䊳

d Merchantable timber. Estimate the quantity
of merchantable timber present on the
acquisition date (see Regulations section
1.611-3(e)). Details of the timber estimate,
made for purposes of the acquisition, should
be available if your return is examined.
e Premerchantable timber. Make an allocation
here only if it is a factor in the total cost or
value of the land.
f Improvements (list separately)

兵

Acre

兵

g Mineral rights
h Total cost or other basis (same amount as line 8). Add lines 9a through 9g
For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 16717G

Form

T (Timber)

(Rev. 12-2005)

Form T (Timber) (Rev. 12-2005)

Part II
1

Page

2

Timber Depletion (see instructions)

Name of block and title of account

䊳

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 䊳
(b)

(a)

Cost or
other basis

Quantity

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

䊳

)

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

16

17
18

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
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
Quantity of cut timber that was sold as logs or other rough products
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)?
Effective date 䊳
Form

Yes
Yes

T (Timber)

No
No
(Rev. 12-2005)

Form T (Timber) (Rev. 12-2005)

Part III

Page

1

Name of block and title of account

2

Location of property (by legal subdivisions or map surveys)

3a Purchaser’s name and address

4

3

Profit or Loss From Land and Timber Sales (see instructions)

b Date of sale

Amount received: 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

a Forested land
b Nonforested land
c Improved land (describe)

䊳

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. 䊳

e Premerchantable timber

f Improvements (list separately)

兵

Number of units

Cost or other
basis per unit

Total cost or other basis

Acre
Acre
Acre

兵

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
Form

T (Timber)

(Rev. 12-2005)

Form T (Timber) (Rev. 12-2005)

Part IV

Page

4

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).
(See instructions for limitations)
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.

䊳

1

Name of block and title of account

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.

Acres

Total cost
or other basis. Give
amount of March 1,
1913 appreciation, if
included

Form

Average rate
per acre

T (Timber)

(Rev. 12-2005)