About Schedule J (Form 1040), Income Averaging for Farmers and Fishermen

Use Schedule J (Form 1040) to elect to figure your income tax by averaging, over the previous 3 years (base years), all or part of your taxable income from your trade or business of farming or fishing.

This election may give you a lower tax if your income from farming or fishing last year is high and your taxable income for one or more of the 3 prior years was low.

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