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Schedule J Line 2a ELECTED FARM INCOME
The IRS instructions for Farm Income Averaging Schedule J Line 2a has a Tip that says "you don't have to include all of your taxable income from farming on line 2a. It may be to your advantage to include less than the entire amount, depending on how the amount you include on line 2a affects your tax bracket for current and prior 3 tax years".
How or why is it possible or legal to include less than the amount on Form 1040 line 15? Is this a red flag to the IRS?
Pat Stephens
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March 13, 2022
9:12 AM