Importance of Various Sources of Income by Age Group

 
 
August 04, 2009

In the previous blog post, I showed how the income profiles of tax returns differ across income groups. In the table below, I do the same for different age groups for tax returns (based upon the age reported on the tax return of the primary taxpayer.) This is based upon new data by age available from the IRS Statistics of Office division.

Age Group

Salaries/Wages

Taxable Interest

Cap Gains/Dividends

Biz Income

Taxable Retirement

Taxable S.S.

All Other

All Returns

66.31%

3.04%

12.99%

7.95%

7.25%

1.90%

0.56%

Under 18

55.05%

5.19%

30.27%

3.95%

1.98%

0.44%

3.12%

18-34

91.75%

0.62%

2.75%

3.45%

0.59%

0.02%

0.82%

35-44

80.44%

1.52%

8.25%

7.76%

1.22%

0.06%

0.74%

45-54

74.10%

2.03%

11.32%

9.69%

2.07%

0.21%

0.58%

55-64

59.10%

3.41%

15.74%

9.97%

10.22%

1.21%

0.37%

65+

17.21%

8.80%

29.09%

7.47%

27.18%

10.00%

0.25%

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