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I have a Day Trader as a client. He has very and low income.

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Second opinion] I have...

Second opinion] I have a Day Trader as a client. He has very hi and low income . does he qualify for income averaging?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Over the last 5 years his Taxable income has ranged from zeru to 88m

Accountant's Assistant: Is there anything else the Accountant should be aware of?

His expenses are normal, He's single

Submitted: 1 month ago.Category: Tax
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3/11/2018
Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 1 month ago
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,046
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help.
No he does not qualify for income averaging. Those rules change in 1986 so that only farmers and fisherman can use income averaging now.
Let me know if you need anything else. If not, please leave a rating. Thanks!
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Tax Professional: Carter McBride, Certified Public Accountant (CPA) replied 1 month ago

Hey! Just wanted to follow up to see if you needed anything else. If not, please leave a rating so I can get credit for helping you out. Thanks!

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