IRS Income Data for Magnolia Springs, AL 36555
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 19% | 25% | 21% | 13% | 9% | 9% | 4% |
| Number of returns | 126 | 167 | 142 | 85 | 62 | 61 | 27 |
| Number of joint returns | 24 | 37 | 63 | 52 | 54 | 56 | 22 |
| Number of returns from paid preparer | 75 | 87 | 86 | 58 | 43 | 44 | 26 |
| Total number of exemptions | 141 | 275 | 283 | 179 | 149 | 155 | 71 |
| Total number of dependents | 17 | 53 | 47 | 24 | 21 | 26 | 11 |
| Adjusted gross income | $-419 | $16,664 | $36,692 | $62,014 | $86,839 | $134,388 | $537,022 |
| Salaries and wages | $5,339 | $11,123 | $25,792 | $39,858 | $42,145 | $85,657 | $170,913 |
| Taxable interest | $1,084 | $784 | $707 | $2,251 | $5,981 | $2,821 | $5,472 |
| Ordinary dividends | $560 | $352 | $592 | $2,006 | $3,198 | $3,000 | $15,298 |
| Business or professional net income | $440 | $1,129 | $1,199 | $2,994 | $676 | $1,722 | $0 |
| Net capital gain | $-218 | $-53 | $24 | $-121 | $2,125 | $2,163 | $146,029 |
| Taxable individual retirement account distributions | $0 | $745 | $706 | $2,297 | $5,800 | $11,790 | $0 |
| Taxable pensions and annuities | $979 | $2,716 | $4,867 | $10,290 | $17,099 | $17,472 | $0 |
| Unemployment compensation | $0 | $305 | $0 | $0 | $0 | $0 | $0 |
| Taxable Social Security benefits | $0 | $0 | $1,409 | $2,814 | $8,251 | $6,913 | $0 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $4,115 | $2,756 | $5,415 | $10,027 | $16,438 | $22,114 | $45,686 |
| State and local income taxes | $89 | $0 | $326 | $1,191 | $1,739 | $3,721 | $12,099 |
| State and local general sales tax | $0 | $73 | $115 | $147 | $498 | $0 | $0 |
| Real estate taxes | $203 | $106 | $277 | $555 | $880 | $1,411 | $2,663 |
| Taxes paid | $268 | $232 | $742 | $1,998 | $2,964 | $5,578 | $14,841 |
| Mortgage interest paid | $0 | $1,167 | $1,833 | $4,083 | $6,548 | $9,960 | $14,351 |
| Contributions | $0 | $294 | $577 | $1,697 | $3,327 | $3,823 | $10,821 |
| Taxable income | $175 | $4,401 | $18,552 | $40,364 | $58,683 | $101,820 | $437,762 |
| Total tax credits | $0 | $60 | $338 | $370 | $562 | $1,617 | $0 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $53 | $236 | $281 | $591 | $0 | $0 |
| Child and dependent care credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Earned income credit | $273 | $785 | $242 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $198 | $622 | $202 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $1,890 |
| Income tax | $0 | $404 | $1,875 | $5,356 | $7,712 | $17,268 | $96,697 |
| Total tax liability | $191 | $656 | $2,354 | $5,964 | $8,058 | $18,429 | $99,163 |
| Tax due at time of filing | $0 | $98 | $354 | $879 | $441 | $2,220 | $19,146 |
| Overpayments refunded | $-1,082 | $-1,543 | $-2,022 | $-1,574 | $-2,780 | $-3,480 | $0 |
| Total Tax Liability / AGI | -46% | 4% | 6% | 10% | 9% | 14% | 18% |
All numbers in the table are 2010 averages for that income class and zip code.
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