This webinar covered the information you need to handle your taxes after the fires. We talked about possibilities for deducting losses, how to determine the amount of loss and reconstructing your basis in the trees. Some people may need to report a gain from the salvage of the timber. You may be considering whether you even want to replant after harvest or salvage of the timber. We talked about how that decision can impact your property tax status here in Oregon. In addition we talked about federal tax incentives available for those who are replanting.

Originally aired on November 5, 2020

Presenter: Tammy Cushing, Forest Economics, Management & Policy Extension Specialist

Resources

• Forest Landowners’ Guide to the Federal Income Tax
• Hardwood Timber Industry Audit Technique Guide
• The Forestry Land Tax Council, YouTube channel
• NRCS Environmental Quality Incentives Program (EQIP)
• NRCS Emergency Watershed Protection Program (EWP)
• NRCS local service center
• FSA Emergency Forest Restoration Program (EFRP)
• FSA local service center