2.7.2 Income from forestry (RF-1175)
Applies to the income year 2017
Under this item, you enter the calculated business income from form RF-1175 Income statement. An average underhang (see below) from average tax assessment for income from forestry should also be entered under this item.
Does this item concern me?
This item concerns everyone who runs a sole proprietorship within the forestry sector or have an average underhang from income from forestry. An average underhang occurs when forest activity is insufficient to fulfill the terms for business and the sum of the up to four last years real income is bigger than the average tax assessment for the same period of time. You can also transfer the average underhang to RF-1219 Gevinst- og tapskonto (norwegian only).
How do I enter this in my tax return?
Under the item, you must enter the amount from item 0402 (column E) on the line for "Forestry" in form RF-1175 Income Statement 1.
An average underhang is entered directly in your tax return for income.
When you submit electronically, the amount under item 2.7.2 will be automatically transferred from form RF-1175.
You do not need to send us any documentation concerning this, but you must be able to present it upon request.