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Maintaining Woodland Tax Records

John Dwyer, William Kurtz and, Ronald Plain (October, 1993)

Summary

It is necessary to maintain complete, documented records on woodlands as on all other farm property. Records are needed to determine the cost of production and to establish a basis for casualty losses and taxes. Also, you need good records in instances of involuntary conversions, timber theft, and to establish the value for credit, a sale, or estate taxes.