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Can a high income year be averaged with lower years to cut the amount of taxes for the high year?


Can a high income year be averaged with lower years to cut the amount of taxes for the high year?

Nope.....your income must come from the tax year your return is filed for.
No your taxes are based on your income for that year. Nice try though
Back in the old days (late 70's), there was something called income averaging. It would go back over a period of 10 years. This was if a person who had lived in poverty for years suddenly came into a load of money, they could get a break by income averaging. I have recently looked for this, but have been unsuccessful.
www.irs.gov
800-829-1040
Good luck
imho - mucho tax experience
Sure . Absolutely.

Go get your 1983 forms @ .....................com
No, income averaging has been gone for many years except for farmers and fishermen.
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