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% |
Was this page helpful to you?
Thank You!
The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work?
Contribute to the Tax FoundationLet us know how we can better serve you!
We work hard to make our analysis as useful as possible. Would you consider telling us more about how we can do better?
Give Us Feedback