SCHEDULE J 

(Form 1040)

Department of the Treasury 

Internal Revenue Service

Income Averaging for 

Farmers and Fishermen

Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/ScheduleJ for instructions and the latest information.

OMB No. 1545-0074

2023

Attachment 

Sequence No. 20

Name(s) shown on return Social security number (SSN) 

1 Enter the taxable income from your 2023 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 Unrecaptured section 1250 gain . . . . . . . . . . . . . . . 2c

3 Subtract line 2a from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . 3 

4 Figure the tax on the amount on line 3 using the 2023 tax rates. See instructions . . . . . . . 4 

5 If you used Schedule J to figure your tax for: 

• 2022, enter the amount from your 2022 Schedule J, line 11. 

• 2021 but not 2022, enter the amount from your 2021 Schedule J, line 15. 

• 2020 but not 2021 or 2022, 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. 

} 5 

6 Divide the amount on line 2a by 3.0 . . . . . . . . . . . . . . 6 

7 Combine lines 5 and 6. If zero or less, enter -0- . . . . . . . . . . 7 

8 Figure the tax on the amount on line 7 using the 2020 tax rates. See instructions . . . . . . . 8 

9 If you used Schedule J to figure your tax for: 

• 2022, enter the amount from your 2022 Schedule J, line 15. 

• 2021 but not 2022, 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. } 9 

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 2021 tax rates. See instructions . . . . . . . 12 

13 If you used Schedule J to figure your tax for 2022, enter the amount from your 

2022 Schedule J, line 3. Otherwise, enter the taxable income from your 2022

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 2022 tax rates. See instructions . . . . . . . 16 

17 Add lines 4, 8, 12, and 16 . . . . . . . . . . . . . . . . . . . . . . . . . 17

For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 25513Y Schedule J (Form 1040) 2023
Schedule J (Form 1040) 2023 Page 2

18 Amount from line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 If you used Schedule J to figure your tax for: 

• 2022, enter the amount from your 2022 Schedule J, line 12. 

• 2021 but not 2022, enter the amount from your 2021 Schedule J, line 16. 

• 2020 but not 2021 or 2022, 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. } 19 

20 If you used Schedule J to figure your tax for: 

• 2022, enter the amount from your 2022 Schedule J, line 16. 

• 2021 but not 2022, enter the amount from your 2021 Schedule J, line 4. 

Otherwise, enter the tax from your 2021 Form 1040, 1040-SR, or 1040-NR, 

line 16.

} 20

21 If you used Schedule J to figure your tax for 2022, enter the amount from your 

2022 Schedule J, line 4. Otherwise, enter the tax from your 2022 Form 1040, 

1040-SR, or 1040-NR, line 16* . . . . . . . . . . . . . . . . 21 

*Only include tax reported on this line that is imposed by section 1 of the Internal Revenue Code. See 

instructions.

22 Add lines 19 through 21 . . . . . . . . . . . . . . . . . . . . . . . . . . 22 

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

line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 

Caution: Your tax may be less if you figure it using the 2023 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) 2023