I recently inherited a Virginia tree Farm. The State Forestry just advised that the 149 acres of Virginia pines should be thinned out, mainly due to hardwood growth. Are there any special tax rules that pertain specifically to tree farms, or would this be basically an income from the sale of the thinned materials and an expense for the logger doing the work. This is all new to me. Thanks

The income generated from the logging and the expenses incurred would be reported on Schedule F (Farm Income) as an attachment to Form 1040.