u/PS3563

I will be selling standing timber from a large residential property (non-business, non-investment) and have a few questions.

• I assume I'll receive a 1099-S and treat this as a capital gain. Correct me if I'm wrong.
• How would I determine the basis on the timber? My original property appraisal did not separate out the value of the trees, just a single value for all the land.
• Since this is not a business will I be able to deduct the cutting and transportation expenses as selling costs adjustment on form 8949?
• Will I need to fill out form T and/or make a depletion deduction?

Bought a house where the original owner had no concept of defensible space. 150+ tall trees (mostly fir and alder) are within 50 ft of the house and could hit it if they came down. Several have already come down but no house damage (yet, knock on wood).

Would removing the potential hazardous trees to create a safety buffer and expand the size of usable yard be considered a capital land improvement?