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.
- From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
- Click Business Income to expand the section and then click Farm Income Averaging Election
- The program will proceed with the interview questions for you to enter or review the appropriate information