Hello, I recently bought some property with approx. 20 acres of timber. I am working with at a consulting forester to establish the tax basis. He would also handle the sale of the timber whenever we get to that point. My question is this, is there a certain amount of time that you need to wait to sell the timber? The forester I'm working with seems to think that if you sell within the first year of owning that the proceeds are taxed as regular income, whereas if we wait a year then it's taxed as a capital gain. Is this true? Thanks, Greg