Federal Reserve Economic Data

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    1999    

 

 

    2016

		Thousands of U.S. Dollars
	Name	2016	Preceding Period	Year Ago from Period
	Adjusted gross income (AGI)	10,225,936,977.000	10,210,310,103.000	10,210,310,103.000
	Salaries and wages	7,217,425,529	7,112,222,959	7,112,222,959
	Taxable interest	96,640,222	95,881,223	95,881,223
	Tax-exempt interest	60,652,535	61,871,455	61,871,455
	Ordinary dividends	254,065,148	260,252,720	260,252,720
	Qualified dividends	202,033,794	203,187,788	203,187,788
	Business or profession net income	389,078,638	391,975,736	391,975,736
	Business or profession net loss	60,996,610	60,161,435	60,161,435
	Net capital gain in AGI	634,341,271	713,598,090	713,598,090
	Net capital loss in AGI	20,125,823	18,646,316	18,646,316
	Capital gain distributions reported on Form 1040	6,759,530	11,563,203	11,563,203
	Sales of property other than capital assets, net gain	27,611,408	33,036,562	33,036,562
	Sales of property other than capital assets, net loss	21,318,833	21,093,508	21,093,508
	Taxable IRA distributions	257,507,903	253,213,041	253,213,041
	Pensions and annuities in AGI	693,626,543	689,991,999	689,991,999
	Unemployment compensation	25,420,264	27,225,383	27,225,383
	Social Security benefits in AGI	285,939,053	277,411,075	277,411,075
	Rent net income	77,938,125	76,533,974	76,533,974
	Rent net loss	53,626,240	52,761,966	52,761,966
	Royalty net income	17,780,149	23,777,626	23,777,626
	Royalty net loss	458,413	461,722	461,722
	Partnership and S corporation net income	754,310,147	755,622,761	755,622,761
	Partnership and S corporation net loss	125,646,321	126,618,186	126,618,186
	Estate or trust net income	30,427,832	32,453,002	32,453,002
	Estate or trust net loss	3,856,714	5,033,199	5,033,199
	Farm net income	11,506,347	13,533,867	13,533,867
	Farm net loss	29,172,377	27,497,651	27,497,651
	Total statutory adjustments	153,413,762	150,092,952	150,092,952
	Educator expenses	982,697	950,200	950,200
	Certain business expenses of reservists, performing artists, and fee-basis government officials	605,289	579,419	579,419
	Individual Retirement Arrangements	13,387,326	13,043,934	13,043,934
	Student loan interest deduction	13,446,141	13,438,377	13,438,377
	Tuition and fees deduction	3,910,226	3,918,501	3,918,501
	Health savings account deduction	4,966,885	4,322,792	4,322,792
	Medical savings account deduction	6,922	3,686	3,686
	Keogh and self-employed retirement plans	24,682,853	24,378,156	24,378,156
	Deduction for self-employment tax	29,865,683	30,106,835	30,106,835
	Self-employed health insurance	30,112,330	28,852,216	28,852,216
	Domestic production activities deduction	13,376,710	12,791,597	12,791,597
	Exemptions	1,146,205,770	1,140,740,415	1,140,740,415
	Total deductions	2,187,065,561	2,158,046,457	2,158,046,457
	Standard deductions	893,666,363	900,609,447	900,609,447
	Returns with additional standard deductions for age 65 or over or blindness	28,572,178	28,146,319	28,146,319
	Itemized deductions	1,293,399,198	1,257,437,010	1,257,437,010
	Medical and dental expense	90,195,263	86,931,032	86,931,032
	Taxes paid	566,097,879	553,015,621	553,015,621
	Interest paid	304,996,915	304,461,163	304,461,163
	Home mortgage interest paid	282,953,098	283,004,465	283,004,465
	Charitable contributions	233,867,289	221,850,264	221,850,264
	Taxable income	7,330,107,228	7,350,295,491	7,350,295,491
	Income tax before credits	1,504,894,343	1,516,165,675	1,516,165,675
	Tax credits	75,380,997	77,927,251	77,927,251
	Child care credit	3,635,193	3,585,379	3,585,379
	Credit for the elderly or disabled	6,563	6,397	6,397
	Child tax credit	26,800,252	27,099,975	27,099,975
	Nonrefundable education credits	9,653,056	10,234,109	10,234,109
	Retirement savings contributions credit	1,536,316	1,441,212	1,441,212
	Residential energy credit	2,336,382	2,087,749	2,087,749
	Foreign tax credit	20,090,001	22,560,125	22,560,125
	General business credit	4,130,911	3,616,120	3,616,120
	Income tax after credits	1,426,594,886	1,435,848,586	1,435,848,586
	Total income tax	1,446,047,551	1,457,891,441	1,457,891,441
	Alternative minimum tax	31,016,377	31,165,616	31,165,616
	Earned income credit	66,723,338	68,524,975	68,524,975
	Used to offset income tax before credits	1,403,058	1,490,048	1,490,048
	Used to offset other taxes	8,266,292	8,240,113	8,240,113
	Excess earned income credit (refundable)	57,053,987	58,794,813	58,794,813
	Refundable American opportunity credit	7,864,516	8,623,424	8,623,424
	Used to offset income tax before credits	3,628,286	3,853,556	3,853,556
	Used to offset other taxes	301,157	256,816	256,816
	Excess American opportunity credit (refundable)	3,935,073	4,513,052	4,513,052
	Tax payments, total	1,693,457,338	1,688,472,002	1,688,472,002
	Income tax withheld	1,222,368,779	1,197,083,155	1,197,083,155
	Excess Social Security tax withheld	3,183,701	3,082,121	3,082,121
	Estimated tax payments	360,038,618	372,286,086	372,286,086
	Payments with requests for extension of filing time	107,697,232	115,820,220	115,820,220
	Tax due at time of filing	154,021,961	161,798,546	161,798,546
	Tax overpayments, total	414,634,849	408,707,508	408,707,508
	Overpayment refunds	334,914,071	329,830,398	329,830,398

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