Income Averaging
The Internal Revenue Code only allows income averaging to farmers and fishermen. If you are a farmer or fisherman, you need to complete Schedule J, Income Averaging for Farmers and Fishermen, using the steps below.
Online
Dashboard
- From within your TaxAct return, click Resources.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Under My Return, click Federal Search.
- Click the Business Income drop-down, then click Farm/fishing income averaging.
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Business Income drop-down, then click Farm/fishing income averaging.
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Business Income drop-down, then click Farm/fishing income averaging.
- Complete the rest of the interview process.
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