Skip to main content
June 6, 2019
Solved

Is there still such return as income averaging? I'm not a fisherman and/or farmer.

  • June 6, 2019
  • 1 reply
  • 0 views
No text available
Best answer by PhyllisG

The Internal Revenue Service has not allowed income averaging since 1987. The four year general income averaging expired in 1986.  As you have mentioned, the exception is for farmers and fisherman. 

1 reply

PhyllisGAnswer
June 6, 2019

The Internal Revenue Service has not allowed income averaging since 1987. The four year general income averaging expired in 1986.  As you have mentioned, the exception is for farmers and fisherman.