What can you tell me about 'income averaging' on tax returns?

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What can you tell me about 'income averaging' on tax returns?

Though I certainly don't earn much, I made almost six times the amount I made last year - if I can find my W-2 from last year is there a chance I will be able to increase the amount I get back? Or do I need statements from more previous years in order to qualify?

2007-04-13 05:24:48 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

Unless you are a farmer or fisherman, income averaging went away in 1986.

2007-04-13 05:32:24 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋

Unless you're a fisherman or a farmer by profession, tax averaging was discontinued decades ago.

2007-04-13 05:46:18 · answer #2 · answered by Judy 7 · 1⤊ 0⤋