Can you help me with income averaging? I cashed in a 401K $130,000 which put me in a much higher tax bracket by $130,000 above my avg. Can I do a 5 year averaging?

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No. Income averaging ending in the 1980's, except for some farmers and fishermen.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Filing prior year 2022 taxes, no taxes owed. One job, w2 employee , only worked 4 months, averaged 70-80 hours per week?

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Can you help me with income averaging? I cashed in a 401K $130,000 which put me in a much higher tax bracket by $130,000 above my avg. Can I do a 5 year averaging?

Can you help me with income averaging? I cashed in a 401K $130,000 which put me in a much higher tax bracket by $130,000 above my avg. Can I do a 5 year averaging?

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Can you help me with income averaging? I cashed in a 401K $130,000 which put me in a much higher tax bracket by $130,000 above my avg. Can I do a 5 year averaging?

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Can you help me with income averaging? I cashed in a 401K $130,000 which put me in a much higher tax bracket by $130,000 above my avg. Can I do a 5 year averaging?

Unlock tailored help options in your account.

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