IRS Income Data for Covington, IN 47932
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 19% | 21% | 24% | 17% | 11% | 7% | 1% |
| Number of returns | 473 | 535 | 607 | 441 | 272 | 179 | 28 |
| Number of joint returns | 54 | 170 | 283 | 335 | 247 | 170 | 25 |
| Number of returns from paid preparer | 310 | 361 | 425 | 330 | 202 | 132 | 26 |
| Total number of exemptions | 421 | 943 | 1,237 | 1,108 | 820 | 535 | 67 |
| Total number of dependents | 56 | 145 | 205 | 185 | 151 | 100 | 0 |
| Adjusted gross income | $3,745 | $16,979 | $36,535 | $61,467 | $85,852 | $125,796 | $446,073 |
| Salaries and wages | $3,770 | $10,620 | $28,564 | $46,425 | $70,141 | $93,239 | $139,313 |
| Taxable interest | $294 | $650 | $572 | $1,088 | $1,301 | $2,128 | $15,125 |
| Ordinary dividends | $58 | $227 | $263 | $459 | $493 | $2,591 | $16,319 |
| Business or professional net income | $342 | $603 | $1,146 | $1,238 | $1,484 | $4,946 | $0 |
| Net capital gain | $-39 | $2 | $167 | $289 | $988 | $3,209 | $9,325 |
| Taxable individual retirement account distributions | $127 | $611 | $578 | $1,570 | $1,306 | $4,026 | $0 |
| Taxable pensions and annuities | $737 | $3,484 | $3,285 | $5,224 | $4,285 | $5,735 | $0 |
| Unemployment compensation | $0 | $321 | $529 | $452 | $306 | $0 | $0 |
| Taxable Social Security benefits | $0 | $100 | $1,185 | $3,315 | $3,094 | $3,356 | $9,385 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $453 | $653 | $2,010 | $4,354 | $7,379 | $13,807 | $41,165 |
| State and local income taxes | $0 | $54 | $241 | $823 | $1,683 | $3,977 | $18,418 |
| State and local general sales tax | $0 | $19 | $0 | $0 | $0 | $0 | $0 |
| Real estate taxes | $31 | $30 | $80 | $241 | $353 | $725 | $2,698 |
| Taxes paid | $57 | $78 | $509 | $1,132 | $2,140 | $4,944 | $21,903 |
| Mortgage interest paid | $0 | $134 | $574 | $1,310 | $2,775 | $3,951 | $3,868 |
| Contributions | $0 | $76 | $194 | $602 | $1,399 | $2,865 | $15,682 |
| Taxable income | $189 | $4,216 | $20,005 | $40,689 | $61,557 | $97,965 | $397,898 |
| Total tax credits | $0 | $72 | $372 | $719 | $1,222 | $650 | $0 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $36 | $274 | $586 | $794 | $444 | $0 |
| Child and dependent care credit | $0 | $0 | $25 | $0 | $33 | $32 | $0 |
| Earned income credit | $226 | $765 | $170 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $199 | $688 | $133 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $2,189 |
| Income tax | $21 | $379 | $2,092 | $4,813 | $7,526 | $16,193 | $94,354 |
| Total tax liability | $79 | $544 | $2,395 | $5,275 | $8,079 | $17,316 | $99,699 |
| Tax due at time of filing | $17 | $51 | $260 | $579 | $727 | $2,458 | $28,499 |
| Overpayments refunded | $-642 | $-1,727 | $-2,019 | $-2,133 | $-3,105 | $-2,509 | $0 |
| Total Tax Liability / AGI | 2% | 3% | 7% | 9% | 9% | 14% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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