IRS Income Data for Minneapolis, MN 55416
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 13% | 14% | 26% | 16% | 9% | 15% | 8% |
| Number of returns | 2,070 | 2,315 | 4,241 | 2,627 | 1,508 | 2,443 | 1,304 |
| Number of joint returns | 108 | 210 | 521 | 677 | 751 | 1,668 | 967 |
| Number of returns from paid preparer | 997 | 1,089 | 1,802 | 1,273 | 824 | 1,429 | 1,014 |
| Total number of exemptions | 1,593 | 2,883 | 5,575 | 4,076 | 2,949 | 5,738 | 3,422 |
| Total number of dependents | 119 | 296 | 488 | 420 | 382 | 937 | 606 |
| Adjusted gross income | $2,649 | $17,520 | $37,322 | $61,425 | $86,429 | $137,088 | $577,531 |
| Salaries and wages | $4,261 | $12,725 | $31,342 | $49,241 | $65,640 | $106,418 | $300,351 |
| Taxable interest | $694 | $649 | $699 | $1,114 | $1,974 | $2,410 | $18,747 |
| Ordinary dividends | $730 | $706 | $720 | $1,395 | $2,019 | $4,297 | $31,755 |
| Business or professional net income | $83 | $1,243 | $1,220 | $1,797 | $2,867 | $5,213 | $12,883 |
| Net capital gain | $1,341 | $-44 | $66 | $228 | $643 | $1,752 | $68,717 |
| Taxable individual retirement account distributions | $359 | $801 | $725 | $1,430 | $2,656 | $3,871 | $6,914 |
| Taxable pensions and annuities | $514 | $1,468 | $1,838 | $3,840 | $6,375 | $5,645 | $5,708 |
| Unemployment compensation | $64 | $343 | $321 | $266 | $221 | $243 | $71 |
| Taxable Social Security benefits | $0 | $161 | $774 | $2,211 | $3,377 | $2,766 | $2,995 |
| Self-employment retirement plans | $0 | $0 | $47 | $97 | $142 | $576 | $3,420 |
| Total itemized deductions | $3,397 | $3,371 | $5,041 | $11,207 | $19,657 | $28,675 | $136,844 |
| State and local income taxes | $402 | $298 | $674 | $2,036 | $4,172 | $7,990 | $47,949 |
| State and local general sales tax | $14 | $28 | $22 | $21 | $21 | $18 | $0 |
| Real estate taxes | $475 | $508 | $719 | $1,630 | $2,714 | $4,086 | $8,479 |
| Taxes paid | $902 | $851 | $1,456 | $3,763 | $7,020 | $12,269 | $55,744 |
| Mortgage interest paid | $1,001 | $884 | $1,901 | $4,448 | $7,072 | $10,458 | $17,261 |
| Contributions | $54 | $232 | $380 | $972 | $1,850 | $3,171 | $20,717 |
| Taxable income | $339 | $6,501 | $23,791 | $42,226 | $59,719 | $99,935 | $453,794 |
| Total tax credits | $4 | $134 | $212 | $278 | $508 | $379 | $2,253 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $14 | $75 | $179 | $296 | $204 | $0 |
| Child and dependent care credit | $0 | $5 | $12 | $14 | $28 | $36 | $46 |
| Earned income credit | $129 | $322 | $52 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $109 | $270 | $42 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $26 | $224 | $7,069 |
| Income tax | $31 | $571 | $2,943 | $6,353 | $9,226 | $18,484 | $121,339 |
| Total tax liability | $159 | $790 | $3,183 | $6,702 | $9,832 | $19,368 | $124,444 |
| Tax due at time of filing | $63 | $143 | $208 | $370 | $656 | $1,257 | $8,873 |
| Overpayments refunded | $-695 | $-1,295 | $-1,497 | $-2,070 | $-2,828 | $-3,688 | $-10,143 |
| Total Tax Liability / AGI | 6% | 5% | 9% | 11% | 11% | 14% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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