Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: utzoo!linus!cca!decvax!harpo!floyd!vax135!ariel!houti!hogpc!houxm!ihnp4!stolaf!umn-cs!smith From: smith@umn-cs.UUCP Newsgroups: net.taxes Subject: Re: Income Averaging - (nf) Message-ID: <272@umn-cs.UUCP> Date: Sun, 5-Jun-83 21:20:10 EDT Article-I.D.: umn-cs.272 Posted: Sun Jun 5 21:20:10 1983 Date-Received: Tue, 7-Jun-83 21:14:29 EDT Lines: 16 #R:uiucdcs:13200006:umn-cs:10500005:000:633 umn-cs!smith Mar 5 12:51:00 1983 To income average, you must have supported yourself for the past 4 years in addition to meeting the increasing income requirement. "Supporting yourself" means paying more that 50% of your own expenses, NOT including money from your parents OR from tax exempt fellowships. I remember seeing a book, perhaps "Tax Guide for Engineers", that gave an example in which someone ultimately saved more money by paying taxes on assistantship income and then income averaging after leaving school. I don't remember what the criteria are; if you're expecting to enter industry rather than teach, you might fall in this category. Rick.