Wisconsin Managed Forest Law: enrollment, taxes, and savings

Last updated 2026-07-24

What is Wisconsin Managed Forest Law?

Wisconsin Managed Forest Law is a current-use property tax program that trades normal residential or agricultural property tax for a flat per-acre tax on enrolled forest land. The 2024 MFL rates are $2.14 per acre for open land (public access allowed) or $10.20 per acre for closed land (no public access) ^[1]. The program requires a minimum 25 contiguous acres, a 25-year or 50-year contract, and a certified forest management plan written by a Department of Natural Resources-approved consulting forester ^[2]. MFL was created in 1986 and replaced the earlier Forest Crop Law and Woodland Tax Law programs. The goal is to keep private forest land in active timber production rather than developed or fragmented. Enrollment freezes your property tax burden for the contract term and shifts the assessment basis from market value to productive forest use. The practical savings are substantial. A 40-acre parcel assessed at $200,000 in full residential property tax (effective rate around 2.0% in many Wisconsin counties) pays roughly $4,000 annually. Under MFL open enrollment, the same 40 acres pays $85.60 per year. Closed enrollment (no public access) costs $408 annually, still 90% lower than full tax. The difference compounds: over 25 years, the open rate saves about $98,500 in property tax. You can't enroll land already in residential use or agricultural cropland. The statute defines forest land as "land stocked with forest trees of any size, including land formerly stocked, and land that is part of the parcel but not suitable for growing trees" ^[3]. Practically, that means existing woods, cutover land, or old fields reverting to forest. Once enrolled, you can't build a house, subdivide, or convert to pasture without withdrawing and paying a penalty.

Who qualifies for MFL enrollment?

You qualify if you own at least 25 contiguous acres of forest land in Wisconsin and agree to a 25-year or 50-year commitment ^[2]. The land must be a single parcel or multiple adjacent parcels under one ownership. The 25-acre minimum is strict: if you own 24 acres, you can't enroll. The land must be classified as forest land. DNR reviews your application and the attached management plan to confirm the acreage is stocked with trees or capable of growing trees. Parcels with houses, barns, or active agricultural use on the proposed enrolled area are rejected. You can exclude a small home site from the enrollment (the law allows up to 2 acres for a residence), but the remaining forest must still meet the 25-acre threshold. You choose open or closed enrollment when you apply. Open enrollment requires you to allow public access for hunting, fishing, hiking, and cross-country skiing during daylight hours ^[1]. You can't charge fees or restrict access except for safety closures during active logging. Closed enrollment lets you exclude the public, but you pay the higher per-acre rate and the state charges a one-time entry fee equal to 5% of the full market value of the enrolled land ^[3]. That entry fee is a real barrier: on a 40-acre parcel worth $200,000, the closed-entry fee is $10,000 due at enrollment. Ownership type doesn't matter. Individuals, LLCs, trusts, corporations, and partnerships all enroll under the same rules. If you inherit enrolled land or buy a parcel already under MFL, the contract stays with the land and you assume the remaining years and obligations ^[2].

What does the management plan require?

Every MFL application must include a certified management plan written by a consulting forester or other DNR-approved plan writer ^[2]. You can't write your own plan even if you have forestry experience. The plan must cover at least the first 10 years of the contract term and address every acre of the enrolled parcel. The plan divides your land into management units (stands) based on tree species, age, size, and site quality. For each stand, the plan prescribes practices: thinning, regeneration harvest, planting, or wildlife habitat improvement. The plan must produce "balanced age classes" across the property, meaning you can't high-grade the best trees and ignore regeneration ^[3]. DNR reviews the plan for biological soundness and long-term sustainability before approving enrollment. A typical plan costs $500 to $1,500 depending on property size and complexity. The forester walks the property, measures tree diameter and height, estimates volume and growth, and writes the prescriptions. The plan document runs 15 to 30 pages and includes maps, stand tables, and a 10-year cutting schedule. DNR requires an update every 10 years during the contract, and the landowner pays for the update (another $500-$1,500) ^[4]. You're not required to implement every prescription immediately, but you must follow the plan's overall intent. If the plan calls for a thinning in year 5 and you wait until year 8, that's usually acceptable. If you clearcut a stand the plan designated for selective harvest, or if you ignore regeneration requirements, DNR can demand corrective action or withdraw your enrollment and assess penalties. The WoodlotLedger Current-Use Enrollment Kit helps you prepare for the forester engagement by organizing ownership documents, maps, and enrollment goals before the site visit, but it doesn't replace the state-required certified plan. WoodlotLedger also offers a basis of land guide to help you track timber basis for future tax planning.

How much does MFL save in property tax?

Open (public access)	$2.14	$107	$2,675
Closed (no public access)	$10.20	$510	$25,250 (includes $12,500 entry fee)
Full property tax (example)	~$90-$110/acre	$4,500-$5,500	$112,500-$137,500	These figures assume stable market value and mill rates. If your county's property values spike or the mill rate climbs, the gap widens further. Conversely, if you already qualify for agricultural or undeveloped land assessment, your baseline tax is lower and MFL saves less.

MFL replaces your normal property tax with a flat per-acre rate set annually by the state. For 2024, open enrollment (public access) is $2.14 per acre and closed enrollment (no public access) is $10.20 per acre ^[1]. These rates adjust yearly for inflation, but the increases are modest (2023 open was $2.04 per acre). The savings depend on your parcel's market value and your county's mill rate. Wisconsin property tax averages 1.8% to 2.2% of assessed value statewide, but rates vary widely by county and municipality. A 50-acre parcel assessed at $250,000 in full residential property tax pays roughly $4,500 to $5,500 annually. Under MFL open enrollment, the same 50 acres pays $107 per year. Over a 25-year contract, that's a cumulative savings of $110,000 to $135,000. Closed enrollment costs more but still delivers large savings. The same 50 acres at $10.20 per acre pays $510 annually, plus the one-time 5% entry fee ($12,500 on a $250,000 parcel). Over 25 years, the total MFL cost is $25,250 compared to $112,500 to $137,500 in full tax. The closed option makes sense if you hunt the property yourself, run a small recreation lease, or simply don't want strangers walking through. | Enrollment Type | 2024 Rate per Acre | 50-Acre Annual Tax | 25-Year Total Cost |

What are the contract term options?

You choose a 25-year or 50-year contract when you enroll ^[2]. The term starts January 1 of the year after DNR approves your application. If you apply in October 2024 and get approved in December 2024, your contract runs January 1, 2025 through December 31, 2049 (25-year) or December 31, 2074 (50-year). The 50-year term pays a lower withdrawal penalty if you exit early (discussed below), but it also locks you in longer. Most landowners choose 25 years because it feels less daunting and aligns better with estate planning. You can renew at the end of the term, and many families have been in MFL or its predecessor programs for multiple generations. There's no financial incentive to pick one term over the other beyond the withdrawal penalty schedule. The annual per-acre tax is identical. The 50-year option makes sense if you're young, plan to hold the land for life, and want the flexibility to withdraw midway with a smaller penalty. The 25-year option is simpler for older owners or those who might sell or develop within a generation. When the contract expires, you can renew for another 25 or 50 years (with an updated management plan) or let the land revert to normal property tax. If you renew, you file a new application and the county reassesses the land at current market value for the next contract's withdrawal penalty calculation, but your annual tax stays at the MFL per-acre rate.

What happens if you sell timber under MFL?

You can harvest and sell timber while enrolled in MFL, but you must follow your management plan and pay a yield tax on the stumpage value of the trees you cut ^[3]. The yield tax is currently 5% of the stumpage value (the value of standing timber before logging costs) ^[1]. This is separate from your annual per-acre property tax. Stumpage value is determined by a DNR-approved appraisal or by using the DNR's quarterly stumpage price reports for your region. If you sell 100,000 board feet of oak sawtimber at an average stumpage price of $400 per thousand board feet, the gross stumpage value is $40,000 and the yield tax is $2,000. You pay the yield tax to the county within 30 days of the harvest completion. The yield tax replaces the property tax you would have paid on the increased value of mature timber. It's a one-time tax at harvest rather than an annual tax on standing inventory. The rate has been 5% since 2004 and is set by statute, not adjusted annually. You must notify DNR before any harvest and file a "Managed Forest Land Harvest Report" within 30 days after the harvest ends ^[4]. The report lists species, volume, stumpage value, and yield tax owed. If you don't file or pay, DNR can suspend your enrollment and demand back property tax for the harvest year. Small fuelwood cutting for personal use (under 5 cords per year) is exempt from the yield tax and reporting requirement ^[3].

How do timber sales get taxed federally?

Timber income is taxed differently than wages or business income. When you sell standing timber (stumpage), the IRS treats it as a capital gain if you've held the timber for more than one year, not ordinary income ^[5]. That means you pay long-term capital gains rates (0%, 15%, or 20% depending on your income) rather than ordinary income rates (up to 37%). To claim capital gains treatment, you must separate the basis of land from the basis of timber. Your timber basis is either what you paid for the standing timber when you bought the property, or the value of timber you grew yourself (which starts at zero and increases only if you capitalize reforestation costs). When you sell timber, you subtract your timber basis from the sale price to get the taxable gain. Example: you bought 40 acres for $120,000 in 2010. A timber cruise at purchase showed $30,000 of merchantable timber, so your timber basis is $30,000 and your land basis is $90,000. In 2024, you sell $50,000 of stumpage. Your gain is $50,000 minus the proportionate timber basis you allocate to the cut trees. If you sold 60% of the volume, you allocate $18,000 of basis, leaving a $32,000 capital gain taxed at 15% (for most taxpayers), or $4,800 federal tax. If you cut and sell the logs yourself (rather than selling stumpage), the income is ordinary income subject to self-employment tax ^[5]. That's a much worse tax outcome. The cleanest structure is selling stumpage or doing a lump-sum sale where the logger owns the trees once they're cut. You avoid capital gains tax entirely if you hold the timber until death. Your heirs receive a stepped-up basis equal to the fair market value at your death, erasing all appreciation ^[6]. That's a powerful estate planning reason to delay major harvests if you don't need the income.

How do you report timber sales on your tax return?

Timber sales go on IRS Form T (Timber), which rolls into Schedule D and Form 8949 for capital gains ^[5]. Form T is a one-page worksheet where you report the date you acquired the timber, your original basis, any adjustments (depletion from prior sales, capitalized reforestation costs), the volume sold, the sale price, and the allocated basis. You file Form T for the tax year in which title to the timber passes to the buyer. For a stumpage sale, that's usually when you sign the contract and receive payment, even if the logger hasn't finished cutting. For a pay-as-cut contract, title passes as the trees are cut, so you recognize income over multiple years if the harvest spans a year-end. The mechanics: 1. Determine your sale price (gross stumpage payment). 2. Calculate the volume sold in board feet, cords, or tons. 3. Allocate a portion of your timber basis to the sold volume (proportionate to total merchantable volume on the property before the sale). 4. Subtract allocated basis from sale price to get gain. 5. Transfer the gain to Schedule D as a long-term capital gain (if held >1 year) or short-term (if ≤1 year). If you sold timber for $40,000, allocated $8,000 of basis, and held the timber for 15 years, you report a $32,000 long-term capital gain on Schedule D. That gain is taxed at your long-term capital gains rate (0%, 15%, or 20%) plus the 3.8% net investment income tax if your adjusted gross income exceeds $200,000 (single) or $250,000 (married filing jointly) ^[6]. You do not pay self-employment tax on stumpage sales, even if you're in the business of managing timber. The IRS treats stumpage as a passive capital asset ^[5]. If you cut the timber yourself and sell logs, you file Schedule C and pay self-employment tax on the profit, which can add 15.3% on top of income tax.

How do you avoid capital gains tax on timber sales?

You can't avoid capital gains tax entirely on timber sales during your lifetime, but you can minimize it. The most common strategies: Hold until death. Your heirs receive a stepped-up basis to fair market value as of the date of death, erasing all gain ^[6]. If you bought timber for $20,000 and it's worth $100,000 when you die, your heirs inherit an $100,000 basis and pay zero capital gains tax if they sell shortly after your death. This is the single biggest tax-planning lever for long-lived timber. Harvest in low-income years. Long-term capital gains rates are 0% if your taxable income is below $44,625 (single) or $89,250 (married filing jointly) in 2024 ^[6]. If you retire early or have a year with low W-2 income, a timber sale can generate substantial cash with zero federal capital gains tax. You still pay the Wisconsin 5% yield tax, but you owe nothing to the IRS. Spread sales across multiple years. If you have $200,000 of standing timber, selling it all in one year pushes you into the 15% or 20% capital gains bracket and triggers the 3.8% net investment income tax. Selling $40,000 per year over five years keeps you in the 0% or 15% bracket and avoids the surtax. Capitalize reforestation costs. If you plant trees or conduct timber stand improvement (TSI), you can elect to capitalize up to $10,000 per year of reforestation expenses and amortize them over 8 years . The capitalized amount adds to your timber basis, reducing future gain. Over 30 years, this can add $50,000 to $100,000 of basis. Donate a conservation easement. If you donate a perpetual easement restricting development, you get an income tax deduction equal to the easement value (often 30-50% of the land's fair market value) . You can carry forward the deduction for up to 5 years. The easement doesn't reduce your timber basis, so it doesn't directly cut capital gains on timber sales, but the deduction shelters other income and can offset the tax from a large harvest. None of these eliminate the Wisconsin 5% yield tax, which is mandatory on all MFL harvests. The yield tax is deductible as a state tax on Schedule A if you itemize, but SALT deductions are capped at $10,000 total under current law.

What are MFL withdrawal penalties?

If you withdraw land from MFL before the contract expires, you pay a withdrawal tax and the land reverts to normal property tax ^[3]. The withdrawal tax is based on the land's fair market value at withdrawal and the number of years remaining in the contract. The penalty is higher for 25-year contracts than 50-year contracts in the early years. For 25-year contracts, the withdrawal tax is 5% of fair market value in years 1-10, then decreases to 3% in years 11-20, and 2% in years 21-25 ^[3]. For 50-year contracts, the tax is 5% in years 1-30, 3% in years 31-40, and 2% in years 41-50. In both cases, if you withdraw in the final two years of the contract, there's no penalty. Example: you enrolled 50 acres in 2015 under a 25-year contract. In 2024 (year 10), the land is worth $300,000 and you want to sell to a developer. You owe a 5% withdrawal tax of $15,000 plus any back property tax the county assesses for the current year (since you lose the MFL rate immediately). The buyer often demands you pay the withdrawal tax before closing. You also lose the full property tax savings you received. The state doesn't recapture past savings, but withdrawing in year 10 means you gave up 15 years of potential MFL savings to pay a $15,000 penalty and switch to full tax. The penalty is designed to hurt enough to discourage casual withdrawal but not so much that it traps landowners who face genuine hardship or opportunity. Withdrawals for road construction, utility easements, or minor land use changes (under 2 acres) are often exempt or assessed a reduced penalty ^[3]. DNR reviews every withdrawal application and calculates the penalty based on a current appraisal. You can't withdraw part of a parcel unless the remaining enrolled portion still meets the 25-acre minimum.

How do you apply for MFL enrollment?

You start by hiring a consulting forester to write your management plan. Find a forester through the Wisconsin Consulting Foresters Association or the DNR's list of approved plan writers ^[4]. The forester visits your property, measures the timber, writes the plan, and submits it to DNR. Once the plan is approved, you complete the "Application for Entry into Managed Forest Law" form and file it with your county land conservation committee and the DNR ^[4]. The application includes: - Legal description and parcel number

• Total acres to be enrolled
• Choice of 25-year or 50-year contract
• Choice of open or closed designation
• The certified management plan
• A sworn statement that you own the land and it qualifies as forest land The county land conservation committee reviews the application and holds a public hearing. They approve or deny based on whether the land meets the forest land definition and the plan is sound. If approved, the application goes to DNR for final approval. DNR checks the plan for compliance with state forestry guidelines and confirms the acreage calculation. Total processing time is typically 6 to 12 months from plan submission to final approval. Once approved, the enrollment becomes effective January 1 of the following year. The county assessor removes the land from normal tax rolls and bills you the MFL per-acre rate instead. There's no application fee, but you pay the forester's fee ($500-$1,500) and, if you choose closed enrollment, the 5% entry fee based on market value. The WoodlotLedger Current-Use Enrollment Kit helps you organize documents, maps, and ownership records before engaging the forester, reducing the time and back-and-forth during plan development.

Can you build on MFL-enrolled land?

No. MFL prohibits residential or commercial construction on enrolled land during the contract term ^[3]. You can't build a house, cabin, shed, or barn on the enrolled acres without withdrawing those acres and paying the penalty. The law allows you to exclude up to 2 acres for an existing residence when you enroll, but the residence must predate enrollment ^[2]. You can't enroll 30 acres, then carve out 2 acres to build a house. If you want to build later, you must withdraw the building site (and any access easement or yard area) before construction. If the withdrawal reduces the remaining enrolled land below 25 acres, the entire enrollment is voided and the full parcel reverts to normal tax. Practically, this means MFL is incompatible with hobby farms, home sites, or recreational cabins unless you already have the structure and exclude it at enrollment. The program is designed for commercial timber production, not rural residential land holding. If you want a hunting shack or sugar shack, you either build it before enrolling and exclude that footprint, or you enroll under closed designation and accept that you can't build for 25 or 50 years.

What is forest management in the MFL context?

Forest management under MFL means managing the enrolled land to produce a continuous supply of timber and other forest products while maintaining forest health and biodiversity ^[2]. The DNR defines it as "the practical application of scientific, economic, and social principles to the administration of a forest to meet specific goals." Your management plan prescribes practices like thinning (removing some trees to let the best ones grow faster), regeneration harvest (clearcutting or seed-tree cuts to start a new forest), planting, prescribed fire, or invasive species control. The goal is balanced age classes: a mix of young, middle-aged, and mature timber across the property so you can harvest sustainably every 10-20 years without running out of mature trees. MFL doesn't require you to cut timber every year or maximize profit. The plan can include wildlife habitat improvements, aesthetic management, or long rotations for high-value veneer logs. But you can't simply leave the land idle. DNR expects measurable progress toward the plan's goals each decade. If you ignore a prescribed thinning for 15 years and the stand stagnates or gets infested with insects, DNR can require corrective action or withdraw your enrollment. The forest management approach you take affects both your timber income and your long-term land value. For more on tracking your timber's financial basis, see the WoodlotLedger basis of land guide.

How does MFL compare to Wisconsin Forest Crop Law?

Forest Crop Law (FCL) was the predecessor to MFL, created in 1927 and closed to new enrollment in 1986 when MFL launched ^[2]. Existing FCL contracts continue until they expire (50-year terms, so the last FCL contracts expire in the 2030s). FCL and MFL are similar in structure: both reduce property tax in exchange for public access and sustainable timber management. The key differences: FCL has only a 50-year term, no 25-year option. FCL's per-acre tax is lower ($1.66 per acre in 2024 vs $2.14 for MFL open) ^[1]. FCL allows a landowner to close up to 160 acres to public access without paying the higher closed rate; MFL requires the $10.20 rate for any closed acres ^[3]. FCL withdrawal penalties are slightly different in structure but similar in magnitude. If you currently own FCL land, you can't switch to MFL until the FCL contract expires. At expiration, you can renew into MFL under the current MFL rules (including the higher per-acre tax and the loss of the 160-acre closure exemption) or let the land revert to normal property tax. For new enrollees, FCL isn't an option. MFL is the only current-use forest program in Wisconsin. Some counties also offer a Managed Forest Land, Special Management Area designation for land with exceptional biodiversity or rare species, but that's a subset of MFL, not a separate program ^[4].

Frequently asked questions

What is forest management bureau?

The Forest Management Bureau is a division of the Wisconsin Department of Natural Resources that administers the Managed Forest Law program, approves management plans, sets annual tax rates, and conducts compliance audits of enrolled properties. Regional foresters employed by the Bureau review applications and provide technical assistance to landowners and consulting foresters.

What is forest management?

Forest management is the application of scientific and economic principles to grow, harvest, and regenerate timber sustainably while maintaining forest health. Under Wisconsin MFL, it means following a written plan prescribing thinning, regeneration cuts, planting, and other practices to produce balanced age classes and continuous timber yield over the contract term.

How to report sale of timber on tax return?

Report timber sales on IRS Form T (Timber), which calculates your gain by subtracting allocated timber basis from the sale price. Transfer the gain to Schedule D and Form 8949 as a long-term capital gain if you held the timber more than one year. File Form T for the year title to the timber passed to the buyer.

How do I avoid capital gains tax on timber sale?

Hold timber until death for a stepped-up basis, harvest in years with low income to qualify for the 0% capital gains rate, spread sales across multiple years to stay in lower brackets, or donate a conservation easement for a deduction that shelters other income. You cannot eliminate federal capital gains tax on lifetime sales, but these strategies minimize it.

Do I have to pay taxes on timber sold?

Yes. Timber sales are subject to federal capital gains tax (0%, 15%, or 20% depending on income) if you held the timber more than one year. In Wisconsin, MFL landowners also pay a 5% yield tax on stumpage value at harvest. The yield tax goes to the county; the capital gains tax goes to the IRS.

Do you have to pay taxes on timber sales?

Yes. Stumpage sales are taxed as long-term capital gains federally if held over one year. Wisconsin MFL landowners pay an additional 5% yield tax on gross stumpage value, due within 30 days of harvest completion. If you cut and sell logs yourself rather than selling stumpage, the income is ordinary income subject to self-employment tax.

Do you pay taxes on timber sales?

Yes. Federal capital gains tax applies to stumpage sales (0% to 20% rate), and Wisconsin MFL landowners pay a 5% state yield tax on the stumpage value. The yield tax is separate from and in addition to annual MFL property tax. Small fuelwood harvests under 5 cords per year for personal use are exempt from the yield tax.

How are timber sales taxed?

Timber sales are taxed as long-term capital gains (0%, 15%, or 20% rate) if you held the timber more than one year and sold stumpage. If you cut and sold logs yourself, it's ordinary income plus self-employment tax. Wisconsin MFL landowners also pay a 5% yield tax on stumpage value at harvest, deductible as a state tax if you itemize.

How do I report timber sales on my taxes?

Complete IRS Form T to calculate gain by subtracting your allocated timber basis from the sale price. Transfer the gain to Schedule D as a long-term or short-term capital gain depending on holding period. Attach Form 8949 to report the transaction details. File in the tax year title to the timber passed to the buyer.

How to report timber sales on tax return?

Use Form T (Timber) to determine gain, then report the gain on Schedule D and Form 8949. Form T walks through acquisition date, original basis, depletion from prior sales, volume sold, sale price, and allocated basis. The result flows to Schedule D as a capital gain. File for the year you transferred title to the timber.

Can I enroll less than 25 acres in MFL?

No. The statute requires a minimum of 25 contiguous acres. If you own 24 acres, you cannot enroll in MFL. If you own 30 acres and exclude 6 acres for a home site, the remaining 24 acres are ineligible. Multiple parcels can combine if they are adjacent and under single ownership.

What happens if I don't follow my MFL management plan?

DNR can issue a notice of non-compliance and require corrective action within a specified timeframe. If you fail to comply, DNR can withdraw your land from MFL, assess back property taxes for the non-compliance period, and charge withdrawal penalties. Minor deviations in timing are usually tolerated; ignoring major prescriptions or clearcutting stands designated for selection harvest triggers enforcement.

Can I hunt on my own MFL-enrolled land?

Yes, if you choose closed enrollment and pay the higher per-acre rate plus the 5% entry fee. If you choose open enrollment, you must allow public hunting access during daylight hours. You can hunt alongside the public, but you can't exclude them or charge access fees. Most landowners who hunt choose closed enrollment despite the higher cost.

Does MFL enrollment affect my ability to sell the land?

You can sell MFL-enrolled land at any time, but the buyer assumes the remaining contract term and all obligations (public access, management plan, harvest reporting). The MFL covenant runs with the land. If the buyer wants to develop or withdraw, they pay the withdrawal penalty based on fair market value and years remaining. Most recreational buyers accept MFL; most developers require you to withdraw before closing.

Sources

1. Wisconsin Department of Revenue - Managed Forest Land Tax Rate: 2024 MFL open enrollment rate is $2.14/acre; closed enrollment is $10.20/acre; yield tax is 5% of stumpage value
2. Wisconsin DNR - Managed Forest Law Overview: 25-acre minimum, 25- or 50-year contract required, certified management plan mandatory, enrollment effective January 1 after approval
3. Wisconsin Statutes § 77.80-77.99 - Managed Forest Law: Withdrawal penalty schedule, 5% entry fee for closed land, forest land definition, yield tax reporting requirements
4. IRS Publication 544 - Sales and Other Dispositions of Assets: Timber sales are capital gains if held >1 year; stumpage sales avoid self-employment tax; cutting and selling logs is ordinary income
5. IRS Publication 551 - Basis of Assets: Heirs receive stepped-up basis to FMV at death, erasing gain; 2024 capital gains rates are 0%, 15%, 20% plus 3.8% NIIT over income thresholds
6. IRS Publication 225 - Farmer's Tax Guide: Reforestation expenses up to $10,000/year can be capitalized and amortized over 8 years, increasing timber basis