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Get Irs Instructions For Schedule J 2024-2025

Gure your 2024 income tax by averaging, over the previous 3 years (base years), all or part of your 2024 taxable income from your trade or business of farming or fishing. This election may give you a lower tax if your 2024 income from farming or fishing is high and your taxable income for 1 or more of the 3 prior years was low. In order to qualify for this election, you aren't required to have been in the business of farming or fishing during any of the base years. You may elect to average farmi.

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