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mickdunaway
New Member

I earned $20000 in interest on money loaned to a farm operation. Can I income average this as farm income?

 
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Cattlerancher
New Member

I earned $20000 in interest on money loaned to a farm operation. Can I income average this as farm income?

Sorry but interest income is not farm income. Income averaging is only allowed for farmers and fishermen with earned income due to highly fluctuating annual income.

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Cattlerancher
New Member

I earned $20000 in interest on money loaned to a farm operation. Can I income average this as farm income?

Sorry but interest income is not farm income. Income averaging is only allowed for farmers and fishermen with earned income due to highly fluctuating annual income.

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