Schedule J (1040) Income Averaging for Farmers and Fishermen

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTERS
SCHEDULE J (FORM 1040), PAGE 1 of 2 (Page 2 is blank)
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES.
PRINTS: FACE ONLY
PAPER: WHITE, WRITING, SUB. 20
INK: BLACK
FLAT SIZE: 203mm (8") 3 279mm (11")
PERFORATE: (NONE)

OMB No. 1545-0074

Attach to Form 1040 or Form 1040NR.
See Instructions for Schedule J (Form 1040).

Name(s) shown on return

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2007

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©

Signature

Revised proofs
requested

Income Averaging for
Farmers and Fishermen

SCHEDULE J
(Form 1040)

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Date

O.K. to print

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Department of the Treasury
Internal Revenue Service

Action

Attachment
Sequence No.

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Social security number (SSN)

Enter the taxable income from your 2007 Form 1040, line 43, or Form 1040NR, line 40
Enter your elected farm income (see page J-1). Do not enter more than the amount on line 1
Subtract line 2 from line 1
Figure the tax on the amount on line 3 using the 2007 tax rates (see page J-2)
If you used Schedule J to figure your tax for:
● 2006, enter the amount from your 2006 Schedule J, line 11.
● 2005 but not 2006, enter the amount from your 2005 Schedule J, line 15.
● 2004 but not 2005 or 2006, enter the amount from your 2004
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Schedule J, line 3.
Otherwise, enter the taxable income from your 2004 Form 1040,
line 42; Form 1040A, line 27; Form 1040EZ, line 6; or Form 1040NR,
line 39. If zero or less, see page J-2.
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Divide the amount on line 2 by 3.0
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Combine lines 5 and 6. If zero or less, enter -0Figure the tax on the amount on line 7 using the 2004 tax rates (see page J-3)
If you used Schedule J to figure your tax for:
● 2006, enter the amount from your 2006 Schedule J, line 15.
● 2005 but not 2006, enter the amount from your 2005
Schedule J, line 3.
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Otherwise, enter the taxable income from your 2005 Form 1040,
line 43; Form 1040A, line 27; Form 1040EZ, line 6; or Form
1040NR, line 40. If zero or less, see page J-5.
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Enter the amount from line 6
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Combine lines 9 and 10. If less than zero, enter as a negative amount

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Figure the tax on the amount on line 11 using the 2005 tax rates (see page J-6)

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If you used Schedule J to figure your tax for 2006, enter the amount
from your 2006 Schedule J, line 3. Otherwise, enter the taxable income
from your 2006 Form 1040, line 43; Form 1040A, line 27; Form 1040EZ,
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line 6; or Form 1040NR, line 40. If zero or less, see page J-8
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Enter the amount from line 6
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Combine lines 13 and 14. If less than zero, enter as a negative amount
Figure the tax on the amount on line 15 using the 2006 tax rates (see page J-8)
Add lines 4, 8, 12, and 16
If you used Schedule J to figure your tax for:
● 2006, enter the amount from your 2006 Schedule J, line 12.
● 2005 but not 2006, enter the amount from your 2005
Schedule J, line 16.
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● 2004 but not 2005 or 2006, enter the amount from your 2004
Schedule J, line 4.
Otherwise, enter the tax from your 2004 Form 1040, line 43;*
Form 1040A, line 28;* Form 1040EZ, line 10; or Form 1040NR, line 40.*
If you used Schedule J to figure your tax for:
● 2006, enter the amount from your 2006 Schedule J, line 16.
● 2005 but not 2006, enter the amount from your 2005
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Schedule J, line 4.
Otherwise, enter the tax from your 2005 Form 1040, line 44;*
Form 1040A, line 28;* Form 1040EZ, line 10; or Form 1040NR, line 41.*

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If you used Schedule J to figure your tax for 2006, enter the amount from your
2006 Schedule J, line 4. Otherwise, enter the tax from your 2006 Form 1040,
line 44;* Form 1040A, line 28;* Form 1040EZ, line 11; or Form 1040NR, line 41*

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*Do not include any tax from Form 8814 or 4972 or from recapture of an education credit. Also, do not
include alternative minimum tax from Form 1040A.

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Add lines 18 through 20
Tax. Subtract line 21 from line 17. Also include this amount on Form 1040, line 44 or Form 1040NR, line 41
Caution. Your tax may be less if you figure it using the 2007 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.

For Paperwork Reduction Act Notice, see Form 1040 or Form 1040NR instructions.

Cat. No. 25513Y

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Schedule J (Form 1040) 2007