There has not been income averaging for years except for farmers and fishermen,
2024 Instructions for Schedule J (2024) | Internal Revenue Service
Use Schedule J (Form 1040) to elect to figure your 2024 income tax by averaging, over the previous 3 years (base years), all or part of your 2024 taxable income from your trade or business of farming or fishing. This election may give you a lower tax if your 2024 income from farming or fishing is high and your taxable income for 1 or more of the 3 prior years was low.
In order to qualify for this election, you aren't required to have been in the business of farming or fishing during any of the base years.
You may elect to average farming or fishing income even if your filing status wasn't the same in the election year and the base years.
This election doesn't apply when figuring your alternative minimum tax on Form 6251. Also, you don't have to refigure, because of this election, the tax liability of any minor child who was required to use your tax rates in the prior years.
About Schedule J (Form 1040), Income Averaging for Farmers and Fishermen | Internal Revenue Service
