Income Averaging for Sale of Farm Partnership Interest?
Income Averaging for Sale of Farm Partnership Interest?
Date
2010-05-14
Authors
Harl, Neil
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Altmetrics
Authors
Research Projects
Organizational Units
Iowa State University Digital Repository
Organizational Unit
Journal Issue
Journal Issue
Series
Department
Iowa State University Digital Repository
Abstract
There’s no question about the eligibility of income distributed from a farm partnership1 for income averaging.2 The question, however, is whether the sale of a partnership interest is also eligible for the statutory income averaging provision. The answer is not clear from the regulations nor is it completely clear whether a partner not engaged in farming could make use of the income averaging provision even if the proceeds from the sale of partnership interests would otherwise be eligible.