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    Author(s): William C. Siegel
    Date: 2004
    Source: National Woodlands 27(2): 22-24
    Publication Series: Miscellaneous Publication
    PDF: View PDF  (405 KB)

    Description

    How expenses and income associated with woodland ownership are treated for tax purposes depends on the reason for owning the property, the use being made of it, the owner's taxpayer classification with respect to the property, and the nature of the income or expense item in question. For example, property tax payments can always be deducted by individual taxpayers because they are included in the allowable itemized deductions for individuals. It doesn't matter whether the land is being held for the production of income or not.

    Publication Notes

    • You may send email to pubrequest@fs.fed.us to request a hard copy of this publication.
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    • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
    • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

    Citation

    Siegel, William C. 2004. Tax considerations associated with different types of forest ownership. National Woodlands 27(2): 22-24

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