income averaging

0 216 Views Please ask your question here: aside from farming income, what other self-employment business income can use income averaging     Novice Level Question Comments Please login or register to comment on a question.

1 Answer(s)

1 Income averaging is allowed for farmers and commerical fisherman (Pub 225).  Other forms of averaging related to self-employment were repealed in 1986.  Refer to Tax Topic 412 - Lump Sum Distributions (2011) for a related discussion concerning one-time distributions from a qualified retirement plan. Comments

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