Importance of Various Sources of Income by Age Group
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% |