Income Averaging for Sale of Farm Partnership Interest?

Date
2010-05-14
Authors
Harl, Neil
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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.

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