Farm Income Averaging - Agriculture Tax Tips

 

알림: 역사 콘텐츠


본 문서는 기록 자료 또는 역사 자료로서 현행 법이나 정책, 절차>를 반영하고 있지 않을 수 있습니다.

If you are engaged in a farming business, you may be able to average all or some of your current year's farm income by shifting it to the 3 prior years (base years). The term "farming business" is defined in the instructions for Schedule J (Form 1040) PDF (PDF).

Who Can Use Farm Income Averaging

You can elect to use farm income averaging if, in the year of the election, you are engaged in a farming business as an individual, a partner in a partnership, or a shareholder in an S corporation. You do not need to have been engaged in a farming business in any base year.

Who Cannot Use Farm Income Averaging

Corporations, partnerships, S corporations, estates, and trusts cannot use farm income averaging.