Lost my income in august 2016 and dont expect much for the next tax year. Can I average the income between 2016 and 2017 to reduces my libility for 2016?

Can I report part of my 2016 income in 2017 as my 2017 income is expected to be very low.

Is there a provision for income averaging over multiple years.

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Income averaging is no longer used for tax reporting. Each tax return must report only your income for the calendar year.

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Income averaging is no longer used for tax reporting. Each tax return must report only your income for the calendar year.

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