Sch J (1040) Income Averaging for Farmers and Fishermen

Version A, Cycle 4

Income Averaging for
Farmers and Fishermen

SCHEDULE J
(Form 1040)
Department of the Treasury
Internal Revenue Service

OMB No. 1545-0074

2022

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 2022 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 2022 tax rates (see instructions) .

.

.

.

.

.

4

5

If you used Schedule J to figure your tax for:
• 2021, enter the amount from your 2021 Schedule J, line 11.
• 2020 but not 2021, enter the amount from your 2020 Schedule J, line 15.
• 2019 but not 2020 or 2021, enter the amount from your 2019 Schedule J, line 3.
Otherwise, enter the taxable income from your 2019 Form 1040, line 11b;
Form 1040-NR, line 41; or Form 1040-NR-EZ, line 14. If zero or less, see
instructions.

}

.

Divide the amount on line 2a by 3.0 .

6
7
8

.

.

INTERNAL USE ONLY
DRAFT AS OF
July 21, 2022
5

.

.

.

.

.

.

.

.

.

.

.

6

Combine lines 5 and 6. If zero or less, enter -0-

.

.

.

.

.

.

.

.

.

.

7

.

.

Figure the tax on the amount on line 7 using the 2019 tax rates (see instructions) .

.

.

.

.

.

.

8

.

.

.

.

.

.

12

16

If you used Schedule J to figure your tax for:
• 2021, enter the amount from your 2021 Schedule J, line 15.
• 2020 but not 2021, 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.

}

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 2020 tax rates (see instructions) .

13

If you used Schedule J to figure your tax for 2021, 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 . .

13

14

Enter the amount from line 6 .

.

.

.

14

15

Combine lines 13 and 14. If less than zero, enter as a negative amount.

.

.

15

16

Figure the tax on the amount on line 15 using the 2021 tax rates (see instructions) .

.

.

.

.

.

.

17

Add lines 4, 8, 12, and 16.

.

.

.

.

.

.

9

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

For Paperwork Reduction Act Notice, see your tax return instructions.

.

.

.

.

.

.

.

.

.

.

.

.

9

.

.

Cat. No. 25513Y

17
Schedule J (Form 1040) 2022

Version A, Cycle 4
Page 2

Schedule J (Form 1040) 2022

18

Amount from line 17

19

If you used Schedule J to figure your tax for:
• 2021, enter the amount from your 2021 Schedule J, line 12.
• 2020 but not 2021, enter the amount from your 2020 Schedule J, line 16.
• 2019 but not 2020 or 2021, enter the amount from your 2019 Schedule J,
line 4.
Otherwise, enter the tax from your 2019 Form 1040, line 12a; Form 1040-NR,
line 42;* or Form 1040-NR-EZ, line 15.

20

21

22
23

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

If you used Schedule J to figure your tax for:
• 2021, enter the amount from your 2021 Schedule J, line 16.
• 2020 but not 2021, 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.

.

}

.

.

.

.

.

.

.

.

18

19

}

20

If you used Schedule J to figure your tax for 2021, enter the amount from your
2021 Schedule J, line 4. Otherwise, enter the tax from your 2021 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).

INTERNAL USE ONLY
DRAFT AS OF
July 21, 2022
Add lines 19 through 21 .

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

Tax. Subtract line 22 from line 18. Also include this amount on Form 1040, 1040-SR, or 1040-NR,
line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

22

23

Caution: Your tax may be less if you figure it using the 2022 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) 2022