FARM BUSINESS NEWS
Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Fri Sep 28, 2012 06:49 AM CDT

DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen in Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns on DTN, email AskAndy@dtn.com

Question:

I have never used income averaging as a farmer, but believe it would be to my advantage in 2012 because income is significantly higher than in the past. My question has to do with "elected farm income" which goes on line 2a of Schedule J. I have read the instructions but am still confused. I thought the amount on this line would ...

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