Forest Industries Schedules

Transcription

1 Form T (Timer) (Rev. June 1992) Forest Inustries Sheules Atth to your tx return. Deprtment of the Tresury Internl Revenue Servie For tx yer ene, 19. Nme(s) s shown on return OMB No Expires Atthment Sequene No. 89 Ientifying numer Generl Instrutions (Setion referenes re to the Internl Revenue Coe unless otherwise note.) Pperwork Reution At Notie We sk for the informtion on this form to rry out the Internl Revenue lws of the Unite Sttes. You re require to give us the informtion. We nee it to ensure tht you re omplying with these lws n to llow us to figure n ollet the right mount of tx. The time neee to omplete n file this form will vry epening on iniviul irumstnes. The estimte verge time is: Reorkeeping 37 hr., 4 min. Lerning out the lw or the form 42 min. Prepring n sening the form to the IRS 1 hr., 20 min. If you hve omments onerning the ury of these time estimtes or suggestions for mking this form more simple, we woul e hppy to her from you. You n write to oth the IRS n the Offie of Mngement n Buget t the resses liste in the instrutions for the tx return with whih this form is file. Who Must File. If you lim eution for epletion of timer or for epreition of plnt n other improvements relte to timer ounts, or elet uner setion 631() to tret the utting of timer s sle or exhnge, you must omplete n tth Form T to your inome tx return. Generlly, you shoul file Form T when you sell or ut stning timer or re involve in other timer trnstions. Complete Form T in orne with setions 611, 631, n 1231 n relte regultions. Complete only Sheules C n F if you re smll-woolot owner whose only timer-relte tivity uring the yer ws n isolte sle of timer. Overview of Form. Form T hs nine sheules. Use the following rules to etermine whih sheules to omplete. Sheule A (optionl). If you o not sen the mps inlue in Sheule A with Form T, you must mke them ville if your return is exmine. Sheule B. Complete for ny yer in whih you quire timer, timer utting ontrts, or forest ln. Complete Sheule A Mps (Optionl) 1 This sheule onsists of mp (or mps) of your timer properties. Whether you file the mps with your inome tx return is your option, ut you must mke them ville if your return is exmine. Mps of onvenient size re esirle, vrying in sle from pproximtely 4 inhes to the mile in smll trts to 1 2 inh to the mile in trts lrger thn 200,000 res. The mps shoul show your nme n the tx yer. Give stnr mp symols in Sheule B Aquisitions 2 Report quisitions uring the tx yer (suh s y purhse, exhnge (whether txle or not), gift, or inheritne) of timer, timer utting ontrts, or forest ln. Report eh quisition of $10,000 or more seprtely. You my omine quisitions of less thn $10,000 for eh ount, n omit items 4 n 5. For n quisition y gift or inheritne, o not omplete items 6 through 8. For n quisition or lese of timer-utting ontrts on py-s-ut sis, exept for Sheule B whether the quisition is purhse, exhnge, gift, or inheritne. Sheule C. Complete for ny yer you sell or exhnge timer, timer utting ontrts, or forest ln. Sheule D. Complete if you lim loss on your inome tx return for timer lost ue to fire, insets, win, theft, or other uses. Sheule E. Complete only if you py or inur expenses for reforesttion of forest ln or for timer stn tivities. Exmples of reforesttion expenses re osts for site preprtion n plnting or seeing of new trees. Exmples of timer stn tivities re preommeril thinning n fertiliztion of trees. Sheule F. Complete for eh timer ount tht hs hnge in quntity or ollr mount. A timer ount my hnge in quntity or ollr mount s result of quisitions, ispositions, the utting of timer, pitlize expenitures, sulty or theft losses, orretions, itions for growth, n trnsfers from other ounts. Sheule F is use to figure epletion for timer ut or the sis for timer sol or lost uring the tx yer. Also use Sheule F if you tret the utting of timer s sle or exhnge uner setion 631(). Sheule G. Complete to show hnges in ownership of ln uring the tx yer. Sheule H (optionl). Complete this sheule if you inur expenses for the uiling of logging truk ros. If timer ompny uils the ro ut lter hrges the lnowner for the ost, the lnowner shoul omplete Sheule H. Sheule I (optionl). Complete this sheule if you inur expenses for uiling ringe strutures, suh s ithes. For more informtion out Feerl inome tx rules n reorkeeping for forestry tivities, see Agriulture Hnook No. 681, Forest Owners Guie To Timer Investments, The Feerl Inome Tx, n Tx Reorkeeping. You my orer this hnook y lling (202) (not toll-free numer) or y writing to the Superintenent of Douments, U.S. Government Printing Offie, Wshington, DC The hnook osts $5.00 (sujet to hnge) n its GPO stok numer is enough etil to show lerly the lotion of: () timer utting ontrts quire seprtely from the ln; () forest lns quire; () res where you ut timer; () timer sol or otherwise ispose of uner utting ontrts; (e) forest ln sol or otherwise ispose of; n (f) forest ln sol or otherwise ispose of with the timer utting rights reserve to you or outstning in thir prties. those ontrts uner whih ll utting is omplete within the tx yer, o not omplete items 6 through 10. Inste, riefly give the provisions of the purhse or lese greement, inluing the numer of yers from the effetive te to the expirtion te, nnul minimum ut or pyment, n the pyment rtes for ifferent kins of timer n forest prouts. Follow the formt of lines 3 through 10 on itionl sheets if neessry. 3 Nme of lok n title of ount 1 4 Lotion of property (y legl suivisions or mp surveys) 1 You must inlue your timer in one or more ounts. Generlly, eh ount must inlue ll of your timer tht is lote in one lok. A lok my e: () n opertionl unit tht inlues ll timer tht woul logilly go to single point of mnufture, () logging unit tht inlues ll timer tht woul logilly e remove y single logging evelopment, or () n re estlishe y the geogrphil or politil ounries of logil mngement res. Timer quire uner utting ontrt my not e inlue in prt of lok, ut shoul e kept in seprte ounts. For exeptionl ses, the timer in given lok my e ivie into two or more ounts. See Regultions setion () for more informtion. Ct. No G Form T (Timer) (Rev. 6-92)

2 Form T (Timer) (Rev. 6-92) Pge 2 Sheule B Aquisitions (Continue) 5 Nme n ress of seller or person from whom property ws quire Dte quire 6 7 Amount pi: In sh In interest-ering notes In non-interest-ering notes Amount of other onsiertion Explntion of the nture of other onsiertion n how you etermine the mount shown on line 7 8 Legl expenses Cruising, surveying, n other quisition expenses 9 10 Totl ost or other sis of property ( lines 6 through 8) Allotion of totl ost or other sis on ooks: Unit Numer of units Cost or other sis per unit Totl ost or other sis Foreste ln Are Other unimprove ln Are Improve ln (esrie) Are Merhntle timer (Give n estimte of the quntity of merhntle timer present on the quisition te. (See Regultions setion (e).) Detils of the timer estimte, me for purposes of the quisition, shoul e ville if your return is exmine.) e f Premerhntle timer. (Mke n llotion here only if it is ftor in the totl ost or vlue of the ln.) Improvements (list seprtely) g Minerl rights h Totl ost or other sis (sme s line 9) Sheule C Profit or Loss From Ln n Timer Sles 11 Generlly, report ll ispositions uring the tx yer (suh s y sle or exhnge, whether txle or tx-free) of timer, timer utting ontrts, or forest ln. Do not report ispositions y gift or istriutions me y n estte to enefiiry. Report eh sle involving totl onsiertion of $10,000 or more seprtely. You my omine sles of less thn $10,000 for eh timer or ln ount n omit items 13 n 14 for eh omine smll sle. For sle or lese of timer-utting rights on py-s-ut sis, to e pi for t intervls uring the utting perio oring to the numer of units ut, nswer items 15, 19, n 20 only for mounts 12 Nme of lok n title of ount tht must e reporte on your urrent yer inome tx return. Inste of nswering items 16, 17, n 18, riefly stte the provisions of the sle or lese greement, inluing the numer of yers from the effetive te to the expirtion te, nnul minimum ut or pyment, n the pyment rtes for the ifferent kins of timer n forest prouts. You my omine smll sles or leses of timer-utting rights on py-s-ut sis tht were omplete within the tx yer. Follow the formt of items 12 through 20 on itionl sheets if neessry. 13 Lotion of property (y legl suivisions or mp surveys)

3 Form T (Timer) (Rev. 6-92) Sheule C Profit or Loss From Ln n Timer Sles (Continue) 14 Purhser s nme n ress Dte of sle Pge 3 15 Amount reeive: In sh In interest-ering notes In non-interest-ering notes 16 Amount reeive in other onsiertion Explntion of the nture of other onsiertion n how you etermine the mount shown on line 16 Totl mount reeive for property ( lines 15 n 16) Cost or other sis of property: Cost or other Unit Numer of units sis per unit Foreste ln Nonforeste ln Improve ln (esrie) Are Are Are Totl ost or other sis e f Merhntle timer. (Give etile estimte of the quntity of merhntle timer on the te of sle or exhnge. Inlue the quntity of timer in eh speies of timer y imeter t rest height (DBH) lsses. Stte the log rule use if the unit of mesure is thousn or feet (MBF), log sle.) Premerhntle timer Improvements (list seprtely) g h i Minerl rights Totl ost or other sis Diret sle expenses (ruising, mrking, selling) 20 Profit or loss (line 18 less the totl of lines 19h n 19i) Sheule D Losses 21 If you h losses uring the tx yer from fire, insets, win, theft, or other uses, n if you lime the loss on your inome tx return, show the proof of loss for eh timer ount seprtely n omplete items 22 through Cuse of loss 23 Lotion n re of ln on whih loss took ple 24 Totl loss efore ny insurne reovery Less mount reeive from insurne Loss s lime on tx return 25 Explin in etil how the totl loss on line 24 ws etermine

4 Form T (Timer) (Rev. 6-92) Sheule E Reforesttion n Timer Stn Ativities Pge 4 26 Summrize your expenses for reforesttion n timer stn tivities on this sheule. Keep on file etile informtion neessry to support the osts reporte in this sheule n mke it ville if your return is exmine. Report on Sheule E expenses suh s supplies, lor, overhe, trnsporttion, tools, n epreition on equipment. Plnting or Seeing. Report the expenses you inurre uring the tx yer for plnting seelings or sowing see to reforest the ln. Report seprtely for eh epletion ount, lok, trt, or operting re triutry to mill or mill omplex. Report ontrt work seprtely from your employees work. Site Preprtion. Report ll expenses inurre uring the tx yer for preprtion of the ln for plnting or seeing (inluing nturl seeing). Inlue expenses for lering the ln of rush n ulling trees y urning, isking, hopping, shering n piling, sprying with heriies, or other mesures tken to i in the suessful reforesttion of the site. Report seprtely for eh epletion ount, lok, trt, or operting re triutry to mill or mill omplex. Report ontrt work seprtely from your employees work. Preommeril Thinning or Fertiliztion. Report ll expenitures tht re require to e pitlize n items tht you elet to pitlize. Also, list on seprte tthment items tht re urrently eutile. Report seprtely for eh epletion ount, lok, trt, or operting re triutry to mill or mill omplex. Report ontrt work seprtely from your employees work. Aount, lok, trt, or re Kin of tivity (urning, hopping, sprying, plnting, seeing, thinning, pruning, fertilizing, et.) Numer of res trete Totl expenitures Totl Sheule F Cpitl Returnle Through Depletion In items 27 through 42, give the t for eh timer ount seprtely, overing ny hnges tht hve tken ple uring the tx yer. Atth s mny itionl pges of this sheule s you nee. If you eplete on the lok sis, omine new purhses with the opening lnes n use the verge epletion rte shown in item 34 for ll timer ut or sol, regrless of how long hel. If you express timer quntity in MBF, log sle, nme the log rule use 27 Nme of lok n title of ount (1) Quntity in MBF, log sle; ors; or other unit 1 (2) Cost or other sis 28 Estimte quntity of timer n mount of pitl returnle through epletion t en of the immeitely preeing tx yer 29 Inrese or erese of quntity of timer require y wy of orretion 2 30 Aition for growth (perio overe yers) Trnsfers from premerhntle timer ount Trnsfers from eferre reforesttion ount 31 Timer quire uring yer 32 Aition to pitl uring yer 3 33 Totl t en of yer, efore epletion ( lines 28 through 32, in eh olumn) 34 Unit rte returnle through epletion, or sis of sles or losses (line 33, olumn 2, ivie y line 33, olumn 1) 35 Quntity of timer ut uring yer 36 Depletion sustine (line 34 multiplie y line 35) 37 Quntity of stning timer sol or otherwise ispose of uring yer 38 Allowle s sis of sle (line 34 multiplie y line 37) 39 Quntity of stning timer lost y fire or other use uring yer 40 Allowle sis of loss (line 34 multiplie y line 39) 41 Totl reutions uring yer: A line 35, olumn 1; line 37, olumn 1; n line 39, olumn 1 A line 36, olumn 2; line 38, olumn 2; n line 40, olumn 2 42 Net quntity n vlue t en of yer (line 33, olumn 1 less line 41, olumn 1; n line 33, olumn 2 less line 41, olumn 2) 1 If MBF, log sle, is not the unit use, stte wht unit you use n explin it. 2 Ajust the quntity in MBF, log sle, or other unit remining t the en of the yer for hnges in reinventory, stnrs of use, sttere n/or inefinitely sertine losses, inury of the former estimte, or hnge in the log sle if the log rule now in use iffers from the one use s sis for epletion in erlier yers. If you mke hnge, lerly stte the sis for it. 3 Anlyze the ition to show the iniviul items inlue. Inlue expenitures for txes, ministrtion, protetion, interest tully pi, et., if you i not tret these expenitures s expense eutions on your return. Crry expenitures for reforesttion, suh s site preprtion, plnting, seeing, et., in seprte eferre ount. 43 Quntity of ut timer tht ws sol s logs or other rough prouts

5 Form T (Timer) (Rev. 6-92) Pge 5 Sheule F Cpitl Returnle Through Depletion (Continue) 44 Are you eleting, or hve you me n eletion in prior tx yer tht is in effet, to report gin or loss from the utting of timer in orne with setion 631()? (This eletion is ining for ll eligile timer ut in the eletion yer n ll susequent yers. You my revoke the eletion only with IRS onsent, unless you me the eletion for tx yer eginning efore 1987.) Yes No If Yes, furnish the informtion ske for in items 45 through Gin or loss on stning timer s reporte on Form 4797, Sles of Business Property. Show the juste sis for epletion n the fir mrket vlue, y speies n unit rtes if reporte on speies sis. Setion 631() requires you to etermine the fir mrket vlue of timer ut uring the yer for timer you owne, or hel uner ontrt right to ut, for more thn 1 yer. The fir mrket vlue is the vlue of the timer s it stoo in the forest on the first y of the tx yer. 46 Furnish the te of quisition of timer tht ws ut in the tx yer, if quire fter Mrh 1, 1913; the quntity of timer remining (juste for growth, orretion of estimtes, hnges in use, n ny hnge in the log rule use); n the juste sis t the eginning of the tx yer. Stte the rege ut over n the mount of timer ut from it uring the tx yer n the log rule or other metho you use to etermine the quntity of timer ut. If you kept epletion ounts y seprte trts or purhses, give the informtion seprtely for eh trt or timer purhse. If you use n verge epletion rte se on the verge vlue or ost of timer lok in erlier yers, the juste sis referre to in setion 631() is the verge sis shown in item 34, fter justment. 47 Desrie in etil the hrteristis of the timer tht ffet its vlue, suh s totl quntity, speies, qulity, quntity per re, size of the verge tree, logging onitions, istne to mrkets, n the like. 48 Give eviene in the form of tul sles of omprle timer s of the vlution te, long with other vlue eviene use. Sheule G Ln Ownership Inlue omputtion showing the ifferene etween the ost (exluing timer or stumpge ost) n vlue of the primry woo prout (logs or other rounwoo, hips, et.) t the mill or plnt. Give etile eviene tht permits omprison with the timer on whih you report vlue. 49 For ll purhses n sles of timer you mke, n for ll other trnstions you report, furnish the relevnt informtion lle for y items 2 through Furnish the following itionl informtion: () Lotion of the swmill, log mrket, or other point of elivery of the logs or woo to the user or uyer. () The totl MBF, log sle, ors, or other units of timer ut, n the length n imeter of the verge log or the verge numer of units per tree. () The perentge of rough lumer gres, y speies, mnufture from the timer uring the yer; or, if ut timer is sol s logs, the perentge of log gres, y speies. 51 Setion 631() pplies only to timer owne, or hel uner ontrt right to ut, for perio of more thn 1 yer. In your reors show the quntity of timer ut tht you hel for more thn 1 yer. Show seprtely the quntity of timer ut tht ws hel for less thn 1 yer. Also, the sle of logs purhse uring the yer must e shown y speies n quntity n exlue from the quntity shown s ut uner setion 631(). Reors must lso show the numer, ost, n point of elivery of purhse logs y speies n gre. Show hnges in ln ounts s rrie on your ooks. Atth s mny itionl sheets s you nee, following the formt of items 53 through 58. Totl ost Nme of lok n title of ount or other sis. Give Averge rte Ares mount of Mrh 1, per re 1913, ppreition, if inlue Blne t eginning of yer Aquisitions uring yer Sles uring yer Other hnges Blne t en of yer ( lines 54 n 55, less lines 56 n 57) Optionl Sheules If the supporting sttements for Sheules H n I re too numerous to file with your return, you must retin this informtion n mke it ville if your return is exmine. Inlue seprte ost ounts for onstrution y you n y the ontrtor. Sheule H Ro Constrution Cost 60 Report uner items 61 n 62 the expenitures inurre for ro onstrution uring the tx yer. Use seprte sheule for eh epletion ount, lok, trt, or geogrphi re triutry to mill or mill omplex. 61 e 62 Ros onstrute on lns owne in fee: Miles onstrute Amount pitlize to nonepreile ount Amount ple in epreition ount Amount lime s n orinry expense Totl mount spent ( lines 61 through 61) Ros onstrute for logging timer hel uner leses or utting ontrts hving term of 2 yers or longer: Miles onstrute Amount to e mortize Amount lime s n orinry expense Totl mount spent ( lines 62 n 62)

6 Form T (Timer) (Rev. 6-92) Sheule I 63 Dringe Strutures Report expenses inurre uring the tx yer for onstrution of wter level ontrol evies suh s ithes n nls. List eh kin of struture seprtely for eh epletion ount, lok, trt, or geogrphi re triutry to mill or mill omplex: Kin of struture Miles onstrute Purpose of struture Pge 6 Amount pitlize to nonepreile ount e Amount ple in epreile or mortizle ount f Amount reporte s n orinry expense g Totl mount spent ( lines 63 through 63f)