IRS Income Data for Cherry Valley, MA 01611
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 14% | 20% | 30% | 17% | 10% | 9% | 0% |
| Number of returns | 142 | 214 | 313 | 182 | 107 | 89 | 0 |
| Number of joint returns | 14 | 36 | 68 | 98 | 91 | 83 | 0 |
| Number of returns from paid preparer | 66 | 105 | 169 | 106 | 60 | 55 | 0 |
| Total number of exemptions | 125 | 297 | 545 | 424 | 284 | 271 | 0 |
| Total number of dependents | 14 | 46 | 93 | 85 | 49 | 53 | 0 |
| Adjusted gross income | $3,924 | $17,185 | $36,922 | $60,929 | $86,160 | $129,208 | |
| Salaries and wages | $3,822 | $13,060 | $31,315 | $53,323 | $75,212 | $112,422 | |
| Taxable interest | $229 | $416 | $451 | $268 | $441 | $1,260 | |
| Ordinary dividends | $155 | $350 | $217 | $369 | $363 | $200 | |
| Business or professional net income | $257 | $746 | $180 | $2,049 | $186 | $529 | |
| Net capital gain | $-145 | $-35 | $-9 | $104 | $-220 | $78 | |
| Taxable individual retirement account distributions | $305 | $378 | $911 | $219 | $0 | $0 | |
| Taxable pensions and annuities | $370 | $1,665 | $2,105 | $2,819 | $6,553 | $4,880 | |
| Unemployment compensation | $0 | $812 | $706 | $1,001 | $736 | $0 | |
| Taxable Social Security benefits | $0 | $49 | $870 | $1,081 | $3,020 | $0 | |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total itemized deductions | $1,020 | $975 | $4,895 | $10,462 | $15,059 | $21,491 | |
| State and local income taxes | $0 | $127 | $574 | $1,546 | $3,285 | $5,442 | |
| State and local general sales tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Real estate taxes | $0 | $264 | $604 | $1,306 | $2,134 | $2,566 | |
| Taxes paid | $372 | $182 | $1,256 | $2,953 | $5,567 | $8,249 | |
| Mortgage interest paid | $0 | $506 | $2,219 | $5,252 | $7,362 | $9,693 | |
| Contributions | $0 | $0 | $484 | $655 | $828 | $1,157 | |
| Taxable income | $311 | $6,043 | $21,011 | $37,977 | $58,612 | $95,505 | |
| Total tax credits | $0 | $97 | $394 | $658 | $875 | $580 | |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Child tax credit | $0 | $27 | $245 | $529 | $583 | $489 | |
| Child and dependent care credit | $0 | $0 | $27 | $43 | $0 | $57 | |
| Earned income credit | $212 | $601 | $117 | $0 | $0 | $0 | |
| Excess earned income credit | $197 | $569 | $104 | $0 | $0 | $0 | |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Income tax | $29 | $555 | $2,292 | $4,756 | $7,657 | $16,372 | |
| Total tax liability | $70 | $689 | $2,380 | $5,131 | $7,875 | $16,760 | |
| Tax due at time of filing | $21 | $85 | $81 | $347 | $0 | $1,067 | |
| Overpayments refunded | $-654 | $-1,612 | $-2,129 | $-3,071 | $-3,679 | $-3,157 | |
| Total Tax Liability / AGI | 2% | 4% | 6% | 8% | 9% | 13% |
All numbers in the table are 2010 averages for that income class and zip code.
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