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Colorado Department of Revenue
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2020 Individual Statistics of Income
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Table 19. Selected Federal Tax Credits by Size of Federal AGI
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This table summarizes selected federal credit data from Form 1040 and Schedule 3, as reported on full-year resident federal returns.
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I. Number of Returns
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Size of Federal AGI Child Tax Credit and Credit for Other Dependents Earned Income Tax Credit Additional Child Tax Credit Foreign Tax Credit Child and Dependent Care Expenses Credit Education Credits Retirement Savings Contributions Credit General Business Credits Adoption Credit Credit for the Elderly or Disabled
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Negative Income384,0302,32412NRNR13NR0NR
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$0 under $10K8776,63518,7811,312NRNR38NR024
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$10K under $20K9,24482,94041,4292,68943112,52311,59756NR616
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$20K under $30K50,30852,74651,7885,1693,27517,95139,187138NRNR
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$30K under $40K62,47154,06249,3897,2114,82215,28829,532173220
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$40K under $50K54,06025,92627,0578,7084,04111,26919,527223440
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$50K under $60K44,7754,52716,1719,5233,4248,01912,964278590
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$60K under $75K56,510011,96514,8354,6418,6227,8803811420
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$75K under $100K76,99306,14323,5788,17812,051NR6842040
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$100K under $200K162,44401,55063,06225,83621,642NR2,2134100
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$200K under $500K68,77803544,82813,5100NR2,690570
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$500K under $1M2260010,8241,635001,29900
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$1M and over0006,712416001,35100
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Total585,934300,866226,632198,46370,216107,496120,7449,496945654
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II. Federal Tax Credits
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Size of Federal AGI Child Tax Credit and Credit for Other Dependents Earned Income Tax Credit Additional Child Tax Credit Foreign Tax Credit Child and Dependent Care Expenses Credit Education Credits Retirement Savings Contributions Credit General Business Credits Adoption Credit Credit for the Elderly or Disabled
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Negative Income$35,231 $5,079,888 $4,938,811 $1,044 NRNR$11,096 NR$0 NR
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$0 under $10K$37,547 $77,830,342 $19,062,234 $51,724 NRNR$9,916 NR$0 $5,003
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$10K under $20K$2,063,494 $192,064,666 $66,662,023 $112,986 $69,015 $4,488,849 $2,390,227 $13,920 NR$45,786
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$20K under $30K$29,876,622 $193,521,020 $98,497,916 $219,530 $1,481,888 $15,775,563 $5,957,790 $97,938 NRNR
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$30K under $40K$79,069,189 $117,772,881 $91,116,302 $374,955 $2,707,933 $16,228,381 $6,465,240 $157,966 $24,982 $0
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$40K under $50K$98,816,078 $31,441,050 $56,784,440 $513,613 $2,060,956 $12,428,929 $3,208,420 $286,651 $58,044 $0
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$50K under $60K$99,698,468 $2,464,451 $30,739,184 $666,452 $1,708,980 $9,725,962 $2,177,563 $417,374 $124,864 $0
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$60K under $75K$147,307,093 $0 $21,328,476 $1,263,165 $2,358,118 $10,632,794 $1,399,205 $723,053 $434,450 $0
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$75K under $100K$223,091,162 $0 $10,539,967 $2,765,994 $4,256,210 $14,708,951 NR$1,626,258 $876,095 $0
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$100K under $200K$486,541,633 $0 $3,386,782 $11,634,551 $13,809,137 $29,793,500 NR$6,757,326 $3,415,204 $0
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$200K under $500K$208,492,603 $0 $108,319 $26,645,576 $7,024,438 $0 NR$9,406,934 $613,396 $0
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$500K under $1M$347,600 $0 $0 $24,210,478 $934,684 $0 $0 $8,384,378 $0 $0
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$1M and over$0 $0 $0 $93,936,562 $256,313 $0 $0 $36,237,368 $0 $0
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Total$1,375,376,720 $620,174,298 $403,164,454 $162,396,630 $36,670,374 $113,834,586 $21,623,829 $64,597,736 $5,550,189 $57,402
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III. Average Federal Tax Credits Per Return
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Size of Federal AGI Child Tax Credit and Credit for Other Dependents Earned Income Tax Credit Additional Child Tax Credit Foreign Tax Credit Child and Dependent Care Expenses Credit Education Credits Retirement Savings Contributions Credit General Business Credits Adoption Credit Credit for the Elderly or Disabled
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Negative Income$927$1,261$2,125$87NRNR$854NR$0NR
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$0 under $10K$432$1,016$1,015$39NRNR$261NR$0$208
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$10K under $20K$223$2,316$1,609$42$160$358$206$249NR$74
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$20K under $30K$594$3,669$1,902$42$452$879$152$710NRNR
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$30K under $40K$1,266$2,178$1,845$52$562$1,062$219$913$1,136$0
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$40K under $50K$1,828$1,213$2,099$59$510$1,103$164$1,285$1,319$0
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$50K under $60K$2,227$544$1,901$70$499$1,213$168$1,501$2,116$0
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$60K under $75K$2,607$0$1,783$85$508$1,233$178$1,898$3,060$0
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$75K under $100K$2,898$0$1,716$117$520$1,221NR$2,378$4,295$0
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$100K under $200K$2,995$0$2,185$184$534$1,377NR$3,053$8,330$0
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$200K under $500K$3,031$0$3,095$594$520$0NR$3,497$10,761$0
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$500K under $1M$1,538$0$0$2,237$572$0$0$6,454$0$0
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$1M and over$0$0$0$13,995$616$0$0$26,823$0$0
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Average$2,347$2,061$1,779$818$522$1,059$179$6,803$5,873$88
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Source: Federal and Colorado individual income tax returns (full-year residents only)
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NR - Not releasable due to confidentiality requirements. Total includes NR data.
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Prepared by: Office of Research and Analysis, Colorado Department of Revenue | dor_ora@state.co.us
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Data extracted: August 25, 2022
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Publish date: September 2024
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