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Federal Income Averaging for Farmers and Fishermen
Extracted from PDF file 2023-federal-1040-schedule-j.pdf, last modified November 2023Income Averaging for Farmers and Fishermen
Income Averaging for Farmers and Fishermen SCHEDULE J (Form 1040) Department of the Treasury Internal Revenue Service OMB No. 1545-0074 2023 Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/ScheduleJ for instructions and the latest information. Attachment Sequence No. 20 Social security number (SSN) Name(s) shown on return 1 Enter the taxable income from your 2023 Form 1040, 1040-SR, or 1040-NR, line 15 . . 1 2a Enter your elected farm income. See instructions. Do not enter more than the amount on line 1 . . 2a Capital gain included on line 2a: b Excess, if any, of net long-term capital gain over net short-term capital loss . 2b c 2c . . . . Unrecaptured section 1250 gain . . . . . . . . . . . . . . . 3 Subtract line 2a from line 1 . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Figure the tax on the amount on line 3 using the 2023 tax rates. See instructions . . . . . . 4 5 If you used Schedule J to figure your tax for: • 2022, enter the amount from your 2022 Schedule J, line 11. • 2021 but not 2022, enter the amount from your 2021 Schedule J, line 15. • 2020 but not 2021 or 2022, enter the amount from your 2020 Schedule J, line 3. Otherwise, enter the taxable income from your 2020 Form 1040, 1040-SR, or 1040-NR, line 15. If zero or less, see instructions. } . 6 Divide the amount on line 2a by 3.0 . . . . . . . . . . . . 6 7 Combine lines 5 and 6. If zero or less, enter -0- . . . . . . . . . . 7 8 Figure the tax on the amount on line 7 using the 2020 tax rates. See instructions . . . . . . 8 9 If you used Schedule J to figure your tax for: • 2022, enter the amount from your 2022 Schedule J, line 15. • 2021 but not 2022, enter the amount from your 2021 Schedule J, line 3. Otherwise, enter the taxable income from your 2021 Form 1040, 1040-SR, or 1040-NR, line 15. If zero or less, see instructions. } 10 Enter the amount from line 6 . . . 10 11 Combine lines 9 and 10. If less than zero, enter as a negative amount . . . 11 12 Figure the tax on the amount on line 11 using the 2021 tax rates. See instructions . . . . . . . 12 13 If you used Schedule J to figure your tax for 2022, enter the amount from your 2022 Schedule J, line 3. Otherwise, enter the taxable income from your 2022 Form 1040, 1040-SR, or 1040-NR, line 15. If zero or less, see instructions . 13 14 Enter the amount from line 6 15 Combine lines 13 and 14. If less than zero, enter as a negative amount 16 Figure the tax on the amount on line 15 using the 2022 tax rates. See instructions . . . . . . . 16 17 Add lines 4, 8, 12, and 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. . . . . . . . . . . . 5 . 9 . . 14 . . 15 . . . . Cat. No. 25513Y 17 Schedule J (Form 1040) 2023 Page 2 Schedule J (Form 1040) 2023 18 Amount from line 17 19 If you used Schedule J to figure your tax for: • 2022, enter the amount from your 2022 Schedule J, line 12. • 2021 but not 2022, enter the amount from your 2021 Schedule J, line 16. • 2020 but not 2021 or 2022, enter the amount from your 2020 Schedule J, line 4. Otherwise, enter the tax from your 2020 Form 1040, 1040-SR, or 1040-NR, line 16. } If you used Schedule J to figure your tax for: • 2022, enter the amount from your 2022 Schedule J, line 16. • 2021 but not 2022, enter the amount from your 2021 Schedule J, line 4. Otherwise, enter the tax from your 2021 Form 1040, 1040-SR, or 1040-NR, line 16. } 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 21 If you used Schedule J to figure your tax for 2022, enter the amount from your 2022 Schedule J, line 4. Otherwise, enter the tax from your 2022 Form 1040, 21 1040-SR, or 1040-NR, line 16* . . . . . . . . . . . . . . . . * Only include tax reported on this line that is imposed by section 1 of the Internal Revenue Code. See instructions. 22 Add lines 19 through 21 . 23 Tax. Subtract line 22 from line 18. Also include this amount on Form 1040, 1040-SR, or 1040-NR, line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 . . . . . . . . 22 23 Caution: Your tax may be less if you figure it using the 2023 Tax Table, Tax Computation Worksheet, Qualified Dividends and Capital Gain Tax Worksheet, or Schedule D Tax Worksheet. Attach Schedule J only if you are using it to figure your tax. Schedule J (Form 1040) 2023
2023 Schedule J (Form 1040)
More about the Federal 1040 (Schedule J) Individual Income Tax TY 2023
We last updated the Income Averaging for Farmers and Fishermen in February 2024, so this is the latest version of 1040 (Schedule J), fully updated for tax year 2023. You can download or print current or past-year PDFs of 1040 (Schedule J) directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Individual Income Tax Forms:
TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 1040 (Schedule J).
| Form Code | Form Name |
|---|---|
| 1040 (Schedule B) | Interest and Ordinary Dividends |
| 1040 (Schedule A) | Itemized Deductions |
| 1040 (Schedule C) | Profit or Loss from Business (Sole Proprietorship) |
| 1040 (Schedule 8812) | Child Tax Credit |
| 1040 (Schedule E) | Supplemental Income and Loss |
| 1040 (Schedule SE) | Self-Employment Tax |
| 1040 (Schedule D) | Capital Gains and Losses |
| 1040 (Schedule F) | Profit or Loss From Farming |
| 1040 (Schedule R) | Credit for the Elderly or the Disabled |
| 1040 (Schedule EIC) | Earned Income Tax Credit |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1040 (Schedule J) from the Internal Revenue Service in February 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Federal 1040 (Schedule J)
We have a total of thirteen past-year versions of 1040 (Schedule J) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 1040 (Schedule J)
2023 Schedule J (Form 1040)
2022 1040 (Schedule J)
2022 Schedule J (Form 1040)
2021 1040 (Schedule J)
2021 Schedule J (Form 1040)
2020 1040 (Schedule J)
2020 Schedule J (Form 1040)
2019 1040 (Schedule J)
2019 Schedule J (Form 1040 or 1040-SR)
2018 1040 (Schedule J)
2018 Schedule J (Form 1040)
2017 1040 (Schedule J)
2017 Schedule J (Form 1040)
2016 1040 (Schedule J)
2016 Schedule J (Form 1040)
2015 1040 (Schedule J)
2015 Schedule J (Form 1040)
2014 1040 (Schedule J)
2014 Schedule J (Form 1040)
2013 1040 (Schedule J)
2013 Schedule J (Form 1040)
2012 1040 (Schedule J)
2012 Schedule J (Form 1040)
2011 1040 (Schedule J)
2011 Form 1040 (Schedule J)
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