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Income Averaging for Farmers and Fishermen SCHEDULE J Form 1040 Department of the Treasury Internal Revenue Service OMB No

Income Averaging for Farmers and Fishermen SCHEDULE J Form 1040 Department of the Treasury Internal Revenue Service OMB No

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Instructions and help about Income Averaging For Farmers And Fishermen SCHEDULE J Form 1040 Department Of The Treasury Internal Revenue Service OMB No

schedule F profit or loss from farming so uh this is a schedule that you would use if you had farming related activities that that you either generated a profit or you generated a loss on based on Goods that that you sold if you materially participated in the business so generally this is the tax uh form that you would uh find as a farmer that would then help inform other parts of your income tax return such as schedule SE for self-employment so there are four parts to this schedule we'll go over each of them in a little bit of detail we've got uh part one which is the farm income cash method part two Farm expenses for both the cash and acral Method part three which is farm income for the acral method and then part four is uh principal agricultural activity codes so we will go over part four first mainly because we need some of this information uh when we start completing part one so uh basically these are the principal uh agricultural activity codes as provided by by t

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