IRS Income Data for Mason City, IA 50401
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 20% | 25% | 25% | 15% | 8% | 6% | 2% |
| Number of returns | 2,768 | 3,460 | 3,528 | 2,064 | 1,102 | 833 | 263 |
| Number of joint returns | 189 | 618 | 1,233 | 1,538 | 997 | 757 | 234 |
| Number of returns from paid preparer | 1,451 | 2,191 | 2,409 | 1,487 | 814 | 635 | 236 |
| Total number of exemptions | 2,429 | 5,244 | 6,550 | 5,221 | 3,117 | 2,379 | 795 |
| Total number of dependents | 335 | 823 | 1,062 | 863 | 546 | 406 | 138 |
| Adjusted gross income | $4,641 | $17,427 | $36,290 | $61,389 | $85,405 | $129,878 | $408,366 |
| Salaries and wages | $4,446 | $12,956 | $28,835 | $48,085 | $66,363 | $91,293 | $238,323 |
| Taxable interest | $225 | $641 | $910 | $1,473 | $1,742 | $4,056 | $7,713 |
| Ordinary dividends | $151 | $290 | $418 | $751 | $1,208 | $4,002 | $11,211 |
| Business or professional net income | $24 | $509 | $571 | $1,264 | $1,834 | $3,781 | $6,200 |
| Net capital gain | $5 | $38 | $107 | $162 | $778 | $3,448 | $46,486 |
| Taxable individual retirement account distributions | $110 | $583 | $780 | $1,263 | $2,057 | $3,196 | $7,266 |
| Taxable pensions and annuities | $370 | $1,647 | $2,724 | $4,109 | $4,618 | $6,643 | $5,752 |
| Unemployment compensation | $116 | $522 | $485 | $470 | $324 | $177 | $0 |
| Taxable Social Security benefits | $0 | $87 | $1,075 | $2,681 | $3,243 | $3,844 | $4,183 |
| Self-employment retirement plans | $0 | $0 | $17 | $47 | $100 | $443 | $1,733 |
| Total itemized deductions | $614 | $1,416 | $3,362 | $6,319 | $10,889 | $20,044 | $53,454 |
| State and local income taxes | $55 | $52 | $350 | $1,020 | $2,300 | $5,631 | $21,739 |
| State and local general sales tax | $9 | $31 | $36 | $31 | $16 | $61 | $0 |
| Real estate taxes | $67 | $128 | $337 | $627 | $1,202 | $2,321 | $4,564 |
| Taxes paid | $135 | $225 | $760 | $1,756 | $3,679 | $8,269 | $26,874 |
| Mortgage interest paid | $109 | $237 | $932 | $1,782 | $3,537 | $5,354 | $9,032 |
| Contributions | $23 | $143 | $330 | $748 | $1,438 | $3,400 | $15,452 |
| Taxable income | $303 | $5,464 | $20,261 | $39,385 | $59,574 | $97,821 | $345,760 |
| Total tax credits | $1 | $98 | $371 | $826 | $1,203 | $598 | $487 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $30 | $217 | $554 | $651 | $371 | $0 |
| Child and dependent care credit | $0 | $9 | $26 | $56 | $67 | $43 | $35 |
| Earned income credit | $299 | $726 | $166 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $278 | $672 | $131 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $64 | $3,588 |
| Income tax | $30 | $494 | $2,157 | $4,557 | $7,166 | $16,306 | $89,128 |
| Total tax liability | $112 | $599 | $2,315 | $4,858 | $7,668 | $17,210 | $90,995 |
| Tax due at time of filing | $40 | $65 | $144 | $397 | $591 | $1,569 | $6,643 |
| Overpayments refunded | $-595 | $-1,724 | $-1,850 | $-2,087 | $-2,475 | $-2,329 | $-7,160 |
| Total Tax Liability / AGI | 2% | 3% | 6% | 8% | 9% | 13% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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