Wildfires and land use play a central role in the long-term carbon (C) dynamics of forested ecosystems of the United States. Understanding their linkages with changes in biomass, resource use, and consumption in the context of climate change mitigation is crucial. We reconstruct a long-term C balance of forests in the contiguous U.S. using historical reports, satellite data, and other sources at multiple scales (national scale 1926-2017, regional level 1941-2017) to disentangle the drivers of biomass C stock change. The balance includes removals of forest biomass by fire, by extraction of woody biomass, by forest grazing, and by biomass stock change, their sum representing the net ecosystem productivity (NEP). Nationally, the total forest NEP increased for most of the 20th century, while fire, harvest and grazing reduced total forest stocks on average by 14%, 51%, and 6%, respectively, resulting in a net increase in C stock density of nearly 40%. Recovery from past land-use, plus reductions in wildfires and forest grazing coincide with consistent forest regrowth in the eastern U.S. but associated C stock increases were offset by increased wood harvest. C stock changes across the western U.S. fluctuated, with fire, harvest, and other disturbances (e.g., insects, droughts) reducing stocks on average by 14%, 81%, and 7%, respectively, resulting in a net growth in C stock density of 14%. Although wildfire activities increased in recent decades, harvest was the key driver in the forest C balance in all regions for most of the observed timeframe.