Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Steve Lamont who wrote (2713)	1/13/2000 11:28:00 AM
From: Webhead	Read Replies (1) of 5810

First let me say thank you all for providing a wonderful resource! I've been lurking since this thread started and have enjoyed picking up bits of interesting information. I've also come to the conclusion that I should avoid wash sales (and all discussion thereof) and any notion of qualifying for trader status like the plague! I have an unusual situation in that due to royalties on an invention I will have a much larger taxable income this year than last (and ever before). Is there some way to spread this income out over several taxable years? My mother (i.e. NOT a tax professional) thinks there is some way to average a large payment over proceeding and current years to spread the tax burden out. In my quick perusal of simple tax guides and the irs site I couldn't find any mention of this. I would greatly appreciate any information on this. Thanks! Ed

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