S.402 - Timber Tax Act of 2007
A bill to amend the Internal Revenue Code of 1986 to allow a deduction for qualified timber gains. view all titles (2)
All Bill Titles
- Official: A bill to amend the Internal Revenue Code of 1986 to allow a deduction for qualified timber gains. as introduced.
- Short: Timber Tax Act of 2007 as introduced.
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Timber Tax Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (available to taxpayers whether or not they itemize deductions) for up to 60% of gains from certain sales or exchanges of timber.