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Colorado Department of Revenue
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2018 Individual Statistics of Income
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Table 17. Standard, Itemized, and Qualified Business Income Deductions by Size of Federal AGI 1
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This table summarizes inferred standard deduction, itemized deduction, and qualified business income deduction amounts applied towards taxable income on full-year resident returns.
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I. Number of Returns
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Size of Federal AGIStandard DeductionsItemized DeductionsQualified Business Income DeductionsTotal Deductions 2
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Negative IncomeNANANANA
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$ 0 to $ 9,999262,4093,849143266,258
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$ 10,000 to $ 19,999278,6565,72420,589284,380
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$ 20,000 to $ 29,999267,4147,21130,935274,625
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$ 30,000 to $ 39,999242,1619,29330,861251,454
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$ 40,000 to $ 49,999195,15712,74928,314207,906
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$ 50,000 to $ 59,999153,12016,18026,126169,300
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$ 60,000 to $ 74,999172,97227,63736,080200,609
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$ 75,000 to $ 99,999196,81443,60952,026240,423
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$ 100,000 to $ 199,999277,136113,660115,552390,796
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$ 200,000 to $ 499,99963,60874,15364,082137,761
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$ 500,000 to $ 999,9996,52013,98011,40620,500
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$ 1,000,000 and over2,2147,7196,7279,933
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Total2,118,181335,764422,8412,453,945
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II. Deductions
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Size of Federal AGIStandard DeductionsItemized DeductionsQualified Business Income DeductionsTotal Deductions
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Negative IncomeNANANANA
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$ 0 to $ 9,999$1,349,025,929 $17,551,778 $253,979 $1,366,831,686
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$ 10,000 to $ 19,999$3,540,484,109 $76,705,839 $12,905,999 $3,630,095,947
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$ 20,000 to $ 29,999$3,973,541,159 $132,397,700 $41,791,553 $4,147,730,412
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$ 30,000 to $ 39,999$3,723,356,645 $190,671,300 $60,722,251 $3,974,750,196
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$ 40,000 to $ 49,999$3,103,602,175 $268,163,940 $70,691,641 $3,442,457,756
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$ 50,000 to $ 59,999$2,575,831,453 $341,025,049 $74,841,246 $2,991,697,748
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$ 60,000 to $ 74,999$3,175,788,252 $601,964,057 $116,966,949 $3,894,719,258
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$ 75,000 to $ 99,999$4,051,560,270 $1,042,193,246 $195,071,099 $5,288,824,615
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$ 100,000 to $ 199,999$6,314,171,713 $3,380,425,039 $672,579,993 $10,367,176,745
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$ 200,000 to $ 499,999$1,491,850,135 $2,807,822,843 $880,359,186 $5,180,032,164
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$ 500,000 to $ 999,999$152,456,700 $838,564,933 $383,024,132 $1,374,045,765
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$ 1,000,000 and over$51,010,000 $2,309,837,762 $1,013,844,129 $3,374,691,891
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Total$33,502,678,540 $12,007,323,486 $3,523,052,157 $49,033,054,183
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III. Average Deductions per Return
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Size of Federal AGI Standard Deductions Itemized Deductions Qualified Business Income DeductionsTotal Deductions
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Negative IncomeNANANANA
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$ 0 to $ 9,999$5,141 $4,560 $1,776 $5,133
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$ 10,000 to $ 19,999$12,706 $13,401 $627 $12,765
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$ 20,000 to $ 29,999$14,859 $18,361 $1,351 $15,103
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$ 30,000 to $ 39,999$15,376 $20,518 $1,968 $15,807
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$ 40,000 to $ 49,999$15,903 $21,034 $2,497 $16,558
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$ 50,000 to $ 59,999$16,822 $21,077 $2,865 $17,671
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$ 60,000 to $ 74,999$18,360 $21,781 $3,242 $19,414
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$ 75,000 to $ 99,999$20,586 $23,899 $3,749 $21,998
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$ 100,000 to $ 199,999$22,784 $29,742 $5,821 $26,528
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$ 200,000 to $ 499,999$23,454 $37,865 $13,738 $37,602
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$ 500,000 to $ 999,999$23,383 $59,983 $33,581 $67,027
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$ 1,000,000 and over$23,040 $299,241 $150,713 $339,745
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Average$15,817 $35,761 $8,332 $19,981
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Source: Federal and Colorado individual income tax returns (full-year residents only)
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NA - Not applicable
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1 Actual amounts claimed for standard deductions, itemized deductions, and qualified business income deduction are not available, and thus are inferred using associated data. The amounts applied toward taxable income are estimated by adjusting the inferred claimed values to account for federal rules, federal AGI, and federal taxable income.
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2 The number of returns counted in total deductions are not a sum of the number of standard deductions, itemized deductions, and qualified business income deductions presented. The total represents the number of returns where taxable income is less than AGI due to the application of standard deductions, itemized deductions, and/or qualified business income deductions. A return can't have both standard and itemized deductions. The qualified business income deduction can be claimed in addition to the standard deduction or itemized deductions.
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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 20, 2020
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Publish date: November 2021
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