Instructions for Form N-168 Income Averaging for Farmers and Fishermen - Hawaii

This document contains official instructions for Form N-168 , Income Averaging for Farmers and Fishermen - a form released and collected by the Hawaii Department of Taxation.

FAQ

Q: Who is eligible to use Form N-168?A: Farmers and fishermen in Hawaii are eligible to use Form N-168.

Q: What is the purpose of Form N-168?A: Form N-168 is used to calculate income averaging for farmers and fishermen in Hawaii.

Q: Do I need to file Form N-168 if I am not a farmer or fisherman?A: No, Form N-168 is only applicable to farmers and fishermen in Hawaii.

Q: When should I file Form N-168?A: Form N-168 should be filed by the due date of your tax return.

Q: What information do I need to complete Form N-168?A: You will need to provide information about your farming or fishing activities, including income and expenses.

Q: Are there any limitations on income averaging for farmers and fishermen?A: Yes, there are certain limitations and restrictions on income averaging for farmers and fishermen in Hawaii. It is recommended to consult a tax professional for guidance.

Q: Can Form N-168 be filed electronically?A: Yes, Form N-168 can be filed electronically through the Hawaii Department of Taxation's e-file system.

Q: Is there a fee to file Form N-168?A: No, there is no fee to file Form N-168.

Q: What should I do if I need assistance with Form N-168?A: If you need assistance with Form N-168, you can contact the Hawaii Department of Taxation or consult a tax professional.