The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: bought forest property||Date: 2/16/2013 5:32 AM|
|Author: AndrewXnn||Number: 117797 of 123001|
My Dad bought 55 acres at auction about a decade ago for $18K.
Not sure how it is being treated for taxes.
We call it "the farm" since it used to be a farm.
It is half wooded and was half open fields.
I helped plant about 4000 trees; Black Walnut, Black Cherry, Red Pine, Cedar, Doug Fir, American Chestnut (experimental). He bought a nice John Deere tractor that he uses to mow the open parts. Probably paid more for the tractor than the land. There is also a "barn".
Separately, he has