I recently had timber harvested off my land, and I made right at $10,000. It was not taxed, but I know I'll have to claim it come tax time. However my other income for the year has only been about $2,000 (I am now a stay-at-home-mom, and we have 1 dependent!) and my partner's income for the year will be under $20,000. Probably more like $13,000. Are we going to wind up paying in a buttload of taxes this year because of the timber sales? What would be a way to avoid this (filing separately, etc)?
2007-07-11
06:55:28
·
6 answers
·
asked by
grayhare
6