Free Form T (Timber) (Rev. December 2005) - Federal

Form

T (Timber)

Forest Activities Schedule
Attach to your tax return. For tax year ending See separate instructions. , 20 .

OMB No. 1545-0007

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

Attachment Sequence No.
Identifying number

117

Name(s) as shown on return

Part I
1 2

Acquisitions

Name of block and title of account Location of property (by legal subdivisions or map surveys)
b Date acquired

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.

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 b Other unimproved land c Improved land (describe)

Acre Acre Acre

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)

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)

Page

2

Part II
1

Timber Depletion (see instructions)

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) Quantity (b) Cost or other basis

2

Estimated quantity of timber and cost or other basis returnable through depletion at end of the preceding tax year Increase or decrease of quantity of timber required by way of correction
)

3

4a Addition for growth (number of years covered b Transfers from premerchantable timber account c Transfers from deferred reforestation account 5 6 7 8 Timber acquired during tax year Addition to capital during tax year

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) Quantity of timber cut during tax year Depletion for the current tax year. Multiply line 8 by line 9 Quantity of standing timber sold or otherwise disposed of during tax year Allowable as basis of sale. Multiply line 8 by line 11 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) 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
Form

9 10 11 12 13 14

15

16

17 18

Yes Yes

No No
(Rev. 12-2005)

T (Timber)

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

Page

3

Part III
1

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

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:

6 7

Total amount received for property. Add lines 4a, 4b, 4c, and 5a Cost or other basis of property: a Forested land b Nonforested land c Improved land (describe) 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.
Unit Number of units Cost or other basis per unit Total cost or other basis

Acre Acre Acre

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
Form

T (Timber)

(Rev. 12-2005)

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

Page

4

Part IV

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

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

1

2 3

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

1

Name of block and title of account

Acres

Average rate per acre

2 3 4 5 6

Balance at beginning of year Acquisitions during year Sales during year Other changes Balance at end of year. Add lines 2 and 3, subtract line 4 and add or subtract line 5 Additional Information.

Form

T (Timber)

(Rev. 12-2005)