Casualties, Thefts and Involuntary Conversions: Some Income Tax Tips for Woodland Owners

This paper defines the conditions that can give rise to a casualty or disaster loss, illustrates how to calculate the tax deductible portion of the loss, and provides some tips on how to document and report such losses. This information is provided in an effort to help interpret current tax laws. It is not intended to substitute for the advice of a qualified legal or tax advisor.

Tags: estate planning, forest health, taxes