There are several different tax benefits that may be available for the sale of your timber & reforestation of your land. Please review the following link for additional information provided by the US Department of Agriculture.

 

This bulletin summarizes federal income tax information useful to woodland owners in preparing their 2011 tax returns. It should not be construed as legal or accounting advice from Dowdy Forest & Land Management; consult your legal and tax professionals for advice on your particular tax situation.

 

http://www.fs.fed.us/spf/coop/library/taxtips2011.pdf