TIMBER AND TAXES

 William C. Siegel, J.D.

 TAX TREATMENT OF GOVERNMENT COST-SHARE PAYMENTS

 (Published in April 2005 issue of National Woodlands magazine)

            Woodland owners who receive a cost-share payment from a federal or state government program generally must report the payment as part of their gross income. However, under the provisions of Section 126 of the Internal Revenue Code, the recipients can then choose to exclude from their income all or part of such payments that meet two requirements.

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Last modified: 02/28/06