Form T (Timber) Form T (Timber) Forest Activities Schedule

Form

T (Timber)

(Rev. December 2013)

Forest Activities Schedule

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▶ Attach to your tax return.
Information about Form T (Timber) and its separate instructions is at www.irs.gov/timber.

Department of the Treasury
Internal Revenue Service
Name(s) as shown on return

Part I

For tax year ending

, 20

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OMB No. 1545-0007
Attachment
Sequence No. 117

Identifying number

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

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.

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6

Legal expenses .

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Cruising, surveying, and other acquisition expenses .

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8

Total cost or other basis of property. Add lines 4a through 7 .

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9

Allocation of total cost or other basis on books:

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

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Unit

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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)

Cost or other
basis per unit

Number of units

Total cost or other basis

Acre
Acre

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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.

b Date acquired

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Acre

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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.

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Cat. No. 16717G

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Form

T (Timber)

(Rev. 12-2013)

Page 2

Form T (Timber) (Rev. 12-2013)

Part II
1

Timber Depletion (see instructions)

Name of block and title of account

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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 ▶
(b)
Cost or
other basis

(a)
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 ▶

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b Transfers from premerchantable timber account .

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c

Transfers from deferred reforestation account .

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5

Timber acquired during tax year

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6

Addition to capital during tax year .

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7
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Total at end of tax year, before depletion. Add lines 2 through 6 . . . . . .
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

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10

Depletion for the current tax year. Multiply line 8 by line 9 .

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11

Quantity of standing timber sold or otherwise disposed of during tax year

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12

Allowable as basis of sale. Multiply line 8 by line 11 .

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14

Quantity of standing timber lost by fire or other cause during tax year . . . .
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:
In column (a), add lines 9, 11, and 13 .

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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 . . . . . . . . . . .

16

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a

Quantity of cut timber that was sold as logs or other rough products . . . . . . . . . . .
Section 631(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)? .

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Effective date ▶
Form T

Yes
Yes

No
No

(Timber) (Rev. 12-2013)

Page 3

Form T (Timber) (Rev. 12-2013)

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 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:

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Total amount received for property. Add lines 4a, 4b, 4c, and 5a

7

Cost or other basis of property:
a Forested land . . . . .
b Nonforested land . . . .
c Improved land (describe) ▶

Unit

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Premerchantable timber .

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Improvements (list separately)

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Cost or other
basis per unit

Number of units

Total cost or other basis

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g Mineral rights . . . . . . . . . .
h Total cost or other basis. Add lines 7a through 7g
i Direct sale expenses (cruising, marking, selling) .
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Acre
Acre
Acre

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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. ▶

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Profit or loss. Subtract the sum of lines 7h and 7i from line 6 .

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Form T

(Timber) (Rev. 12-2013)

Page 4

Form T (Timber) (Rev. 12-2013)

Part IV

Reforestation and Timber Stand Activities (see instructions)
Kind of activity (burning, chopping,
spraying, planting, seeding, thinning,
pruning, fertilizing, etc.)

Account, block, tract, area, or stand ID for each
Qualified Timber Property (QTP)

Number of
acres treated

Total
expenditures

1

2

Total

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Total reforestation expenses . . . . . . . . . . . . . . . .
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) . . . . . . . . . .

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4a

Part V

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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

2

Balance at beginning of year

3

Acquisitions during year .

4

Sales during year

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5

Other changes .

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6

Balance at end of year. Add lines 2 and 3, subtract line 4 and
add or subtract line 5 . . . . . . . . . . . . . .

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Acres

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

Average rate
per acre

Additional Information.

Form T

(Timber) (Rev. 12-2013)