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Level 1
posted Apr 5, 2022 11:54:31 AM

How do I get turbotax online to calculate Income Averaging?

Tax year income for 2021 was much higher than 2020. If I could average the two years, it would help.

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1 Replies
Expert Alumni
Apr 5, 2022 12:09:46 PM

It depends.  Only farmers or fishermen are allowed to use income averaging to calculate their tax.  TurboTax does have this form and the capability to average income for these professions (Schedule F).