Home » Iowa » MAHASKA County » ZIP Code 52577 » Tax Stats

52577 Income Tax Overview

Total Number of Tax Returns for ZIP Code 52577 [1]	6,559
Total Number of Joint Tax Returns for ZIP Code 52577	2,994
Total Number of Dependents for ZIP Code 52577	2,138
Total Adjusted Gross Income for ZIP Code 52577	332,064,292
Average Income per Person for ZIP Code 52577	$22,057

The following tables break down the Income Tax Statistics into different Gross Income levels.

Adjusted Gross Income: Under $10,000 [1]

Number of returns [1]	1,290
Number of joint returns	151
Number of returns with paid preparer's signature	819
Number of exemptions	1,314
Number of dependents	211
Adjust gross income (AGI) [2]	$5,220,609
Salaries and wages	$5,447,579
Taxable interest	$365,603
Ordinary dividends	$303,009
Business or professional net income (less loss)	($91,836)
Net capital gain (less loss)	$20,941
Taxable individual retirement arrangements distributions	$245,525
Taxable pensions and annuities	$465,871
Unemployment compensation [3]	$134,432
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,284,010
State and local income taxes	$26,787
State and local general sales tax	$19,370
Real estate taxes	$104,353
Taxes paid	$145,607
Mortgage interest paid	$221,927
Contributions	$58,444
Taxable income	$353,642
Total tax credits [5]	$351
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$459,981
Excess earned income credit (refundable) [7]	$419,276
Alternative minimum tax	$0
Income tax [8]	$33,075
Total tax liability [9]	$130,340
Tax due at time of filing [10]	$40,623
Overpayments refunded [11]	($890,593)

Adjusted Gross Income: $10,000 under $25,000

Number of returns [1]	1,377
Number of joint returns	304
Number of returns with paid preparer's signature	1,019
Number of exemptions	2,193
Number of dependents	352
Adjust gross income (AGI) [2]	$23,349,203
Salaries and wages	$16,718,317
Taxable interest	$1,274,866
Ordinary dividends	$458,576
Business or professional net income (less loss)	$1,056,690
Net capital gain (less loss)	($36,378)
Taxable individual retirement arrangements distributions	$910,960
Taxable pensions and annuities	$2,198,084
Unemployment compensation [3]	$710,988
Taxable Social Security benefits	$161,090
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,266,419
State and local income taxes	$104,989
State and local general sales tax	$40,646
Real estate taxes	$192,655
Taxes paid	$352,107
Mortgage interest paid	$229,559
Contributions	$254,421
Taxable income	$6,502,639
Total tax credits [5]	$102,381
Residential energy tax credit	$0
Child tax credit	$34,275
Child and dependent care credit	$10,968
Earned income credit [6]	$1,101,638
Excess earned income credit (refundable) [7]	$1,001,646
Alternative minimum tax	$0
Income tax [8]	$591,709
Total tax liability [9]	$827,091
Tax due at time of filing [10]	$117,909
Overpayments refunded [11]	($2,531,890)

Adjusted Gross Income: $25,000 under $50,000

Number of returns [1]	1,734
Number of joint returns	700
Number of returns with paid preparer's signature	1,303
Number of exemptions	3,437
Number of dependents	562
Adjust gross income (AGI) [2]	$63,588,160
Salaries and wages	$50,759,178
Taxable interest	$1,965,340
Ordinary dividends	$643,618
Business or professional net income (less loss)	$1,831,060
Net capital gain (less loss)	$315,876
Taxable individual retirement arrangements distributions	$1,427,718
Taxable pensions and annuities	$3,602,118
Unemployment compensation [3]	$717,693
Taxable Social Security benefits	$1,789,085
Self-employment retirement plans	$87,825
Total itemized deductions [4]	$5,156,536
State and local income taxes	$564,031
State and local general sales tax	$39,379
Real estate taxes	$502,425
Taxes paid	$1,162,510
Mortgage interest paid	$1,344,465
Contributions	$729,650
Taxable income	$35,011,837
Total tax credits [5]	$691,596
Residential energy tax credit	$0
Child tax credit	$420,795
Child and dependent care credit	$33,332
Earned income credit [6]	$305,941
Excess earned income credit (refundable) [7]	$244,953
Alternative minimum tax	$0
Income tax [8]	$3,652,773
Total tax liability [9]	$4,155,400
Tax due at time of filing [10]	$352,055
Overpayments refunded [11]	($3,552,875)

Adjusted Gross Income: $50,000 under $75,000

Number of returns [1]	1,052
Number of joint returns	824
Number of returns with paid preparer's signature	824
Number of exemptions	2,810
Number of dependents	487
Adjust gross income (AGI) [2]	$65,024,221
Salaries and wages	$53,325,895
Taxable interest	$1,550,201
Ordinary dividends	$608,046
Business or professional net income (less loss)	$1,125,580
Net capital gain (less loss)	$259,612
Taxable individual retirement arrangements distributions	$1,098,783
Taxable pensions and annuities	$2,881,940
Unemployment compensation [3]	$448,113
Taxable Social Security benefits	$2,352,246
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,932,841
State and local income taxes	$1,038,302
State and local general sales tax	$16,689
Real estate taxes	$645,807
Taxes paid	$1,768,849
Mortgage interest paid	$1,801,172
Contributions	$932,044
Taxable income	$41,714,910
Total tax credits [5]	$995,290
Residential energy tax credit	$0
Child tax credit	$636,707
Child and dependent care credit	$56,114
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$4,660,170
Total tax liability [9]	$5,134,336
Tax due at time of filing [10]	$482,995
Overpayments refunded [11]	($2,404,397)

Adjusted Gross Income: $75,000 under $100,000

Number of returns [1]	574
Number of joint returns	537
Number of returns with paid preparer's signature	464
Number of exemptions	1,650
Number of dependents	275
Adjust gross income (AGI) [2]	$49,273,953
Salaries and wages	$37,775,750
Taxable interest	$1,066,348
Ordinary dividends	$553,932
Business or professional net income (less loss)	$957,025
Net capital gain (less loss)	$567,663
Taxable individual retirement arrangements distributions	$921,149
Taxable pensions and annuities	$3,421,492
Unemployment compensation [3]	$84,157
Taxable Social Security benefits	$2,012,131
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,622,419
State and local income taxes	$1,224,218
State and local general sales tax	$30,981
Real estate taxes	$655,817
Taxes paid	$1,981,418
Mortgage interest paid	$1,971,733
Contributions	$942,559
Taxable income	$34,853,520
Total tax credits [5]	$651,415
Residential energy tax credit	$0
Child tax credit	$395,175
Child and dependent care credit	$34,793
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$4,214,982
Total tax liability [9]	$4,535,391
Tax due at time of filing [10]	$435,920
Overpayments refunded [11]	($1,381,004)

Adjusted Gross Income: $100,000 under $200,000

Number of returns [1]	436
Number of joint returns	392
Number of returns with paid preparer's signature	359
Number of exemptions	1,244
Number of dependents	209
Adjust gross income (AGI) [2]	$55,386,734
Salaries and wages	$37,798,345
Taxable interest	$1,645,347
Ordinary dividends	$995,091
Business or professional net income (less loss)	$2,215,521
Net capital gain (less loss)	$1,518,282
Taxable individual retirement arrangements distributions	$1,193,102
Taxable pensions and annuities	$2,671,617
Unemployment compensation [3]	$14,346
Taxable Social Security benefits	$1,717,455
Self-employment retirement plans	$250,349
Total itemized deductions [4]	$7,873,748
State and local income taxes	$2,379,240
State and local general sales tax	$0
Real estate taxes	$906,260
Taxes paid	$3,391,157
Mortgage interest paid	$2,131,892
Contributions	$1,619,048
Taxable income	$42,154,147
Total tax credits [5]	$290,887
Residential energy tax credit	$0
Child tax credit	$191,650
Child and dependent care credit	$18,922
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$19,888
Income tax [8]	$7,014,871
Total tax liability [9]	$7,606,455
Tax due at time of filing [10]	$1,079,320
Overpayments refunded [11]	($949,387)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	96
Number of joint returns	86
Number of returns with paid preparer's signature	89
Number of exemptions	266
Number of dependents	42
Adjust gross income (AGI) [2]	$70,221,412
Salaries and wages	$22,995,983
Taxable interest	$1,787,828
Ordinary dividends	$2,538,876
Business or professional net income (less loss)	$240,239
Net capital gain (less loss)	$4,189,763
Taxable individual retirement arrangements distributions	$100,954
Taxable pensions and annuities	$122,683
Unemployment compensation [3]	$0
Taxable Social Security benefits	$346,132
Self-employment retirement plans	$0
Total itemized deductions [4]	$10,116,682
State and local income taxes	$2,676,386
State and local general sales tax	$0
Real estate taxes	$421,263
Taxes paid	$3,150,365
Mortgage interest paid	$607,603
Contributions	$3,752,781
Taxable income	$59,277,231
Total tax credits [5]	$332,972
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$280,868
Income tax [8]	$16,927,739
Total tax liability [9]	$17,054,794
Tax due at time of filing [10]	$1,428,414
Overpayments refunded [11]	($630,168)

[1] Includes returns with adjusted gross deficit.

[2] Less deficit.

[3] Includes the Alaskan permanent fund, reported by residents of Alaska on Forms 1040A and 1040EZ's. This fund only applies to statistics in the U.S. totals, and the state of Alaska.

[4] "Itemized deductions" include any amounts reported by the taxpayer, even if they could not be used in computing "taxable income," the base on which the regular income tax was computed. Thus, total itemized deductions include amounts that did not have to be reported by taxpayers with no "adjusted gross income." (Adjusted gross income is the total from which these deductions would normally be subtracted.) In addition, if standard and itemized deductions were both reported on a tax return, the form of deduction actually used in computing income tax was the one used for the statistics. Therefore, if the standard deduction was the form of deduction used, the total reported for itemized deductions was excluded from the statistics. However, the component deductions were not similarly excluded. As a result, the number of returns and related amounts for the component deductions are slightly overstated in relation to the grand total shown for itemized deductions. These components are also overstated in relation to the total because there was a statutory limitation on the total of itemized deductions that could be claimed by certain high-income taxpayers. This limitation did not affect the component deductions, the sum of which therefore exceeded the total used in computing income tax.

[5] "Total tax credits" excludes the "earned income credit" which is shown separately.

[6] "Earned income credit" includes both the refundable and non-refundable portions. The non-refundable portion could reduce income tax and certain related taxes to zero. The earned income credit amounts in excess of total tax liability, or amounts when there was no tax liability at all, were refundable. See footnote 7 below for explanation of the refundable portion of the earned income credit.

[7] The refundable portion of the "earned income credit" equals "total income tax" minus the "earned income credit". If the result is negative, this amount is considered the refundable portion.

[8] "Income tax" is in general, the same as "income tax after credits" which was redefined in Tax Year 2000 to include the "alternative minimum tax (AMT)". Zip Code table "Income tax" differs from "total income tax" (in other tables) in that the Zip Code table "Income tax" is after the subtraction of all tax credits except the earned income credit. See footnote 6 and 7 above, for an explanation of the treatment of the earned income credit. "Income tax" reflects the amount reported on the tax return and is, therefore, before any examination or enforcement activities by the Internal Revenue Service. It represents the tax filer reported income tax liability that was payable to the U.S. Department of the Treasury.

[9] For the Zip Code tables, "Total tax liability" differs from "Income tax," in that "Total tax liability" includes the taxes from recapture of certain prior-year credits, tax applicable to individual retirement arrangements (IRA's), Social Security taxes on self-employment income and on certain tip income, advanced earned income payments, household employment taxes, and certain "other taxes" listed in the Form 1040 instructions.

[10] Reflects payments to or withholdings made to "Total tax liability" (footnote 9). The amount the tax filer owes when the income tax return is filed.

[11] The amount of overpayments the tax filer requested to have refunded.