Home » Colorado » EL PASO County » ELBERT, CO » ZIP Code 80106 » Tax Stats

80106 Income Tax Overview

Total Number of Tax Returns for ZIP Code 80106 [1]	1,827
Total Number of Joint Tax Returns for ZIP Code 80106	1,080
Total Number of Dependents for ZIP Code 80106	643
Total Adjusted Gross Income for ZIP Code 80106	132,575,049
Average Income per Person for ZIP Code 80106	$31,327

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]	293
Number of joint returns	38
Number of returns with paid preparer's signature	135
Number of exemptions	244
Number of dependents	20
Adjust gross income (AGI) [2]	$533,657
Salaries and wages	$1,365,578
Taxable interest	$135,857
Ordinary dividends	$67,397
Business or professional net income (less loss)	$152,669
Net capital gain (less loss)	$9,037
Taxable individual retirement arrangements distributions	$60,824
Taxable pensions and annuities	$138,571
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,059,934
State and local income taxes	$59,640
State and local general sales tax	$5,334
Real estate taxes	$64,541
Taxes paid	$134,185
Mortgage interest paid	$568,234
Contributions	$0
Taxable income	$88,604
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$47,861
Excess earned income credit (refundable) [7]	$37,130
Alternative minimum tax	$0
Income tax [8]	$7,801
Total tax liability [9]	$71,938
Tax due at time of filing [10]	$19,983
Overpayments refunded [11]	($183,655)

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

Number of returns [1]	254
Number of joint returns	67
Number of returns with paid preparer's signature	130
Number of exemptions	378
Number of dependents	50
Adjust gross income (AGI) [2]	$4,358,736
Salaries and wages	$3,095,646
Taxable interest	$236,112
Ordinary dividends	$184,355
Business or professional net income (less loss)	$593,246
Net capital gain (less loss)	($25,510)
Taxable individual retirement arrangements distributions	$98,363
Taxable pensions and annuities	$502,645
Unemployment compensation [3]	$0
Taxable Social Security benefits	$26,168
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,280,786
State and local income taxes	$64,710
State and local general sales tax	$8,800
Real estate taxes	$78,936
Taxes paid	$161,714
Mortgage interest paid	$712,707
Contributions	$77,148
Taxable income	$1,288,243
Total tax credits [5]	$16,508
Residential energy tax credit	$0
Child tax credit	$4,050
Child and dependent care credit	$0
Earned income credit [6]	$149,524
Excess earned income credit (refundable) [7]	$108,094
Alternative minimum tax	$0
Income tax [8]	$121,214
Total tax liability [9]	$227,338
Tax due at time of filing [10]	$52,044
Overpayments refunded [11]	($360,977)

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

Number of returns [1]	306
Number of joint returns	144
Number of returns with paid preparer's signature	163
Number of exemptions	636
Number of dependents	109
Adjust gross income (AGI) [2]	$11,182,616
Salaries and wages	$7,935,789
Taxable interest	$151,999
Ordinary dividends	$279,648
Business or professional net income (less loss)	$934,996
Net capital gain (less loss)	$141,612
Taxable individual retirement arrangements distributions	$291,210
Taxable pensions and annuities	$1,430,501
Unemployment compensation [3]	$183,757
Taxable Social Security benefits	$283,965
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,836,492
State and local income taxes	$170,139
State and local general sales tax	$21,619
Real estate taxes	$199,054
Taxes paid	$431,535
Mortgage interest paid	$1,577,668
Contributions	$219,395
Taxable income	$5,052,050
Total tax credits [5]	$89,524
Residential energy tax credit	$0
Child tax credit	$60,596
Child and dependent care credit	$0
Earned income credit [6]	$63,112
Excess earned income credit (refundable) [7]	$40,579
Alternative minimum tax	$0
Income tax [8]	$525,992
Total tax liability [9]	$711,606
Tax due at time of filing [10]	$114,177
Overpayments refunded [11]	($622,651)

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

Number of returns [1]	262
Number of joint returns	184
Number of returns with paid preparer's signature	149
Number of exemptions	668
Number of dependents	113
Adjust gross income (AGI) [2]	$16,318,669
Salaries and wages	$12,196,269
Taxable interest	$330,150
Ordinary dividends	$233,210
Business or professional net income (less loss)	$468,870
Net capital gain (less loss)	$43,329
Taxable individual retirement arrangements distributions	$402,410
Taxable pensions and annuities	$1,934,427
Unemployment compensation [3]	$114,943
Taxable Social Security benefits	$688,748
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,748,005
State and local income taxes	$324,397
State and local general sales tax	$13,251
Real estate taxes	$219,153
Taxes paid	$601,737
Mortgage interest paid	$2,092,005
Contributions	$318,627
Taxable income	$9,282,322
Total tax credits [5]	$187,038
Residential energy tax credit	$0
Child tax credit	$134,710
Child and dependent care credit	$8,390
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,075,754
Total tax liability [9]	$1,170,190
Tax due at time of filing [10]	$131,503
Overpayments refunded [11]	($654,520)

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

Number of returns [1]	250
Number of joint returns	216
Number of returns with paid preparer's signature	130
Number of exemptions	710
Number of dependents	119
Adjust gross income (AGI) [2]	$21,772,770
Salaries and wages	$16,874,822
Taxable interest	$396,953
Ordinary dividends	$169,503
Business or professional net income (less loss)	$395,524
Net capital gain (less loss)	$26,380
Taxable individual retirement arrangements distributions	$783,440
Taxable pensions and annuities	$2,516,943
Unemployment compensation [3]	$0
Taxable Social Security benefits	$692,715
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,897,410
State and local income taxes	$593,960
State and local general sales tax	$26,262
Real estate taxes	$313,116
Taxes paid	$1,015,060
Mortgage interest paid	$2,808,745
Contributions	$433,680
Taxable income	$13,886,016
Total tax credits [5]	$233,866
Residential energy tax credit	$0
Child tax credit	$173,620
Child and dependent care credit	$7,819
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,741,233
Total tax liability [9]	$1,873,927
Tax due at time of filing [10]	$107,764
Overpayments refunded [11]	($725,846)

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

Number of returns [1]	399
Number of joint returns	369
Number of returns with paid preparer's signature	182
Number of exemptions	1,202
Number of dependents	207
Adjust gross income (AGI) [2]	$53,016,916
Salaries and wages	$42,054,568
Taxable interest	$739,434
Ordinary dividends	$532,080
Business or professional net income (less loss)	$1,090,772
Net capital gain (less loss)	$771,895
Taxable individual retirement arrangements distributions	$1,380,469
Taxable pensions and annuities	$5,061,592
Unemployment compensation [3]	$89,103
Taxable Social Security benefits	$804,353
Self-employment retirement plans	$0
Total itemized deductions [4]	$10,213,050
State and local income taxes	$1,768,061
State and local general sales tax	$29,467
Real estate taxes	$645,707
Taxes paid	$2,580,267
Mortgage interest paid	$5,693,226
Contributions	$1,222,178
Taxable income	$38,176,182
Total tax credits [5]	$240,886
Residential energy tax credit	$0
Child tax credit	$170,198
Child and dependent care credit	$15,425
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$6,459,532
Total tax liability [9]	$6,731,654
Tax due at time of filing [10]	$490,034
Overpayments refunded [11]	($1,108,221)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	63
Number of joint returns	62
Number of returns with paid preparer's signature	47
Number of exemptions	170
Number of dependents	25
Adjust gross income (AGI) [2]	$25,391,685
Salaries and wages	$13,354,550
Taxable interest	$433,707
Ordinary dividends	$109,829
Business or professional net income (less loss)	$6,964
Net capital gain (less loss)	$968,788
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$984,036
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,135,231
State and local income taxes	$1,157,182
State and local general sales tax	$0
Real estate taxes	$207,725
Taxes paid	$1,405,305
Mortgage interest paid	$940,799
Contributions	$561,911
Taxable income	$20,745,494
Total tax credits [5]	$6,139
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	$120,898
Income tax [8]	$5,552,883
Total tax liability [9]	$5,722,018
Tax due at time of filing [10]	$428,759
Overpayments refunded [11]	($118,642)

[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.