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.