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    Author(s): William C. Siegal
    Date: 2001
    Source: National Woodlands (2001), p. 21-24
    Publication Series: Miscellaneous Publication
    PDF: View PDF  (507 KB)

    Description

    If standing timber is destroyed or stolen, or if forest land is condemned for public use, the owner may be entitled to take a deduction on his or her income tax return. These types of losses are called involuntary conversions. In previous National Woodlands articles I've discussed in detail casualty losses, which represent the major type of timber involuntary conversion, and noncasualty timber losses resulting from drought and insect attacks. This article will address two other aspects of the subject which are perhaps less familiar to woodland owners. These arecondemnations and postponing taxable gains from involuntary conversions.

    Publication Notes

    • You may send email to pubrequest@fs.fed.us to request a hard copy of this publication.
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    • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

    Citation

    Siegal, William C. 2001. Special involuntary conversion situations involving timberland. National Woodlands (2001), p. 21-24

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https://www.fs.usda.gov/treesearch/pubs/9445