IRS Income Data for Elko, MN 55020
View threads near Elko, MN 55020 or Start a new Elko MN 55020 thread
| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 16% | 11% | 15% | 16% | 15% | 23% | 4% |
| Number of returns | 245 | 158 | 231 | 233 | 229 | 344 | 54 |
| Number of joint returns | 22 | 30 | 74 | 149 | 210 | 321 | 52 |
| Number of returns from paid preparer | 122 | 85 | 144 | 153 | 141 | 194 | 41 |
| Total number of exemptions | 158 | 215 | 450 | 623 | 759 | 1,145 | 188 |
| Total number of dependents | 14 | 27 | 87 | 115 | 155 | 232 | 41 |
| Adjusted gross income | $2,525 | $16,565 | $35,967 | $61,425 | $87,325 | $132,092 | $342,375 |
| Salaries and wages | $5,949 | $13,436 | $28,277 | $49,648 | $76,335 | $117,426 | $258,752 |
| Taxable interest | $292 | $669 | $500 | $408 | $828 | $1,036 | $3,330 |
| Ordinary dividends | $295 | $288 | $223 | $271 | $364 | $605 | $2,642 |
| Business or professional net income | $-142 | $1,217 | $2,341 | $2,600 | $2,868 | $1,310 | $0 |
| Net capital gain | $333 | $49 | $-56 | $371 | $34 | $1,006 | $3,977 |
| Taxable individual retirement account distributions | $0 | $770 | $815 | $818 | $1,547 | $2,695 | $0 |
| Taxable pensions and annuities | $398 | $1,103 | $1,853 | $3,400 | $2,395 | $2,623 | $10,262 |
| Unemployment compensation | $0 | $509 | $617 | $902 | $641 | $408 | $0 |
| Taxable Social Security benefits | $0 | $0 | $558 | $1,315 | $1,941 | $0 | $0 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $3,975 | $2,531 | $10,190 | $17,273 | $21,427 | $30,232 | $54,333 |
| State and local income taxes | $340 | $86 | $820 | $2,188 | $3,428 | $6,774 | $21,467 |
| State and local general sales tax | $20 | $0 | $43 | $0 | $0 | $0 | $0 |
| Real estate taxes | $427 | $331 | $1,375 | $2,327 | $2,767 | $4,294 | $6,349 |
| Taxes paid | $818 | $458 | $2,322 | $4,701 | $6,449 | $11,337 | $28,284 |
| Mortgage interest paid | $1,547 | $1,493 | $5,582 | $9,740 | $11,885 | $14,897 | $21,676 |
| Contributions | $38 | $37 | $801 | $1,229 | $1,464 | $2,575 | $4,703 |
| Taxable income | $416 | $5,380 | $16,597 | $33,165 | $52,498 | $90,279 | $277,554 |
| Total tax credits | $0 | $87 | $310 | $913 | $1,446 | $778 | $185 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $0 | $227 | $742 | $1,139 | $609 | $0 |
| Child and dependent care credit | $0 | $0 | $26 | $43 | $79 | $94 | $141 |
| Earned income credit | $85 | $491 | $258 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $80 | $437 | $152 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $2,766 |
| Income tax | $45 | $500 | $1,754 | $3,541 | $5,857 | $14,787 | $73,438 |
| Total tax liability | $86 | $758 | $2,278 | $4,153 | $6,456 | $15,231 | $76,024 |
| Tax due at time of filing | $34 | $157 | $244 | $404 | $370 | $910 | $7,763 |
| Overpayments refunded | $-653 | $-1,516 | $-2,321 | $-2,891 | $-3,262 | $-3,429 | $-3,526 |
| Total Tax Liability / AGI | 3% | 5% | 6% | 7% | 7% | 12% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
Please discuss this service and make suggestions for improvement.