IRS Income Data for Minneapolis, MN 55412
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 19% | 25% | 32% | 14% | 6% | 4% | 0% |
| Number of returns | 1,857 | 2,341 | 3,020 | 1,334 | 577 | 380 | 28 |
| Number of joint returns | 87 | 205 | 474 | 563 | 409 | 299 | 21 |
| Number of returns from paid preparer | 867 | 1,299 | 1,450 | 622 | 275 | 186 | 18 |
| Total number of exemptions | 2,633 | 4,598 | 5,919 | 2,802 | 1,430 | 954 | 68 |
| Total number of dependents | 587 | 1,107 | 1,145 | 463 | 229 | 150 | 10 |
| Adjusted gross income | $4,637 | $17,161 | $36,179 | $61,048 | $85,526 | $124,859 | $272,262 |
| Salaries and wages | $4,090 | $14,159 | $32,945 | $54,214 | $75,018 | $104,672 | $182,807 |
| Taxable interest | $96 | $138 | $194 | $489 | $582 | $1,227 | $2,159 |
| Ordinary dividends | $57 | $67 | $123 | $312 | $379 | $1,063 | $2,819 |
| Business or professional net income | $489 | $1,313 | $729 | $750 | $1,223 | $3,890 | $0 |
| Net capital gain | $-42 | $-2 | $29 | $88 | $276 | $2,284 | $855 |
| Taxable individual retirement account distributions | $88 | $285 | $280 | $809 | $1,642 | $2,475 | $0 |
| Taxable pensions and annuities | $287 | $940 | $1,415 | $2,813 | $4,301 | $5,974 | $0 |
| Unemployment compensation | $112 | $490 | $381 | $465 | $390 | $305 | $0 |
| Taxable Social Security benefits | $0 | $42 | $327 | $1,183 | $1,532 | $1,512 | $0 |
| Self-employment retirement plans | $0 | $0 | $36 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $595 | $1,376 | $5,085 | $10,879 | $14,691 | $21,757 | $37,138 |
| State and local income taxes | $13 | $70 | $644 | $1,984 | $3,348 | $6,322 | $15,227 |
| State and local general sales tax | $8 | $14 | $17 | $18 | $0 | $0 | $0 |
| Real estate taxes | $72 | $206 | $660 | $1,322 | $1,733 | $2,432 | $4,068 |
| Taxes paid | $97 | $301 | $1,365 | $3,420 | $5,225 | $8,928 | $19,438 |
| Mortgage interest paid | $281 | $698 | $2,785 | $5,439 | $7,202 | $8,762 | $12,953 |
| Contributions | $25 | $116 | $383 | $983 | $1,327 | $2,122 | $3,709 |
| Taxable income | $109 | $4,448 | $19,922 | $39,877 | $59,980 | $93,602 | $226,772 |
| Total tax credits | $0 | $103 | $407 | $590 | $796 | $513 | $0 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $46 | $280 | $448 | $533 | $335 | $0 |
| Child and dependent care credit | $0 | $9 | $30 | $26 | $47 | $60 | $0 |
| Earned income credit | $697 | $1,497 | $270 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $617 | $1,341 | $240 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $26 | $2,714 |
| Income tax | $16 | $382 | $2,149 | $5,327 | $8,426 | $16,160 | $57,079 |
| Total tax liability | $133 | $597 | $2,303 | $5,548 | $8,770 | $16,955 | $58,848 |
| Tax due at time of filing | $23 | $72 | $166 | $309 | $546 | $1,470 | $7,357 |
| Overpayments refunded | $-1,089 | $-2,559 | $-2,061 | $-2,175 | $-2,331 | $-2,249 | $-2,602 |
| Total Tax Liability / AGI | 3% | 3% | 6% | 9% | 10% | 14% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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