runtwoday <runtwoday[at]netscape.net> writes:

- quote -

Nope, unless you're a farmer and this is farming income.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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"runtwoday" <runtwoday[at]netscape.net> wrote:

- quote -

No, except for farmers. Income averaging for all
disappeared in 1986.

--
Phil Marti
Clarksburg, MD

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My son received a one time bonus which almost tripled his
2006 income over previous years and what he expects to earn
in the next few years.

In the old days there was a provision called Income
Averaging that allowed a TP to spread a bonus like this over
five years. Anything similar in the current tax code that
would help in this situation.

Thanks in advance.

Carl

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >