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Colorado Department of Revenue
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2020 Individual Statistics of Income
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Table 16. Income and Tax Data by Size of Federal AGI and Standard/Itemized Deduction Returns ¹
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This table summarizes inferred standard and itemized deduction returns filed by full-year residents. Federal AGI and Colorado net tax are summarized for each category.
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I. Number of Returns and Aggregate Dollar Amounts
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Size of Federal AGI Number of
Standard Deduction Returns 		Federal AGI
on Standard Deduction Returns 		Colorado Net Tax
on Standard Deduction Returns 		Number of
Itemized Deduction Returns 		Federal AGI
on Itemized Deduction Returns 		Colorado Net Tax
on Itemized Deduction Returns
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Negative IncomeNANANANANANA
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$0 under $10K274,166$1,381,143,711 $4,312,134 NANANA
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$10K under $20K272,985$4,060,411,792 $33,045,571 2,740$45,939,323 $212,100
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$20K under $30K266,082$6,661,522,234 $118,898,981 5,585$141,806,405 $1,326,561
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$30K under $40K255,766$8,926,262,462 $210,644,176 8,513$300,529,371 $4,505,811
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$40K under $50K212,593$9,523,962,261 $253,443,160 12,052$545,855,924 $11,198,119
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$50K under $60K167,723$9,189,719,569 $259,028,800 15,607$861,002,989 $21,420,184
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$60K under $75K188,394$12,638,105,763 $367,070,451 26,887$1,816,645,635 $50,458,874
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$75K under $100K209,766$18,151,709,112 $547,149,094 43,315$3,775,826,398 $115,301,653
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$100K under $200K313,229$42,428,696,623 $1,424,749,592 107,975$15,513,475,367 $528,280,367
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$200K under $500K82,465$23,023,409,079 $870,167,968 73,915$21,902,146,331 $812,373,578
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$500K under $1M8,658$5,755,416,281 $228,376,142 14,957$10,147,085,370 $379,380,960
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$1M and over3,212$7,222,033,230 $287,585,086 8,236$27,088,985,199 $971,814,336
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Total2,255,039$148,962,392,117 $4,604,471,155 319,782$82,139,298,312 $2,896,272,543
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II. Number of Returns and Average Dollar Amounts per Return
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Size of Federal AGI Number of
Standard Deduction Returns 		Federal AGI
on Standard Deduction Returns 		Colorado Net Tax
on Standard Deduction Returns 		Number of
Itemized Deduction Returns 		Federal AGI
on Itemized Deduction Returns 		Colorado Net Tax
on Itemized Deduction Returns
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Negative IncomeNANANANANANA
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$0 under $10K274,166$5,038 $16 NANANA
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$10K under $20K272,985$14,874 $121 2,740$16,766 $77
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$20K under $30K266,082$25,036 $447 5,585$25,391 $238
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$30K under $40K255,766$34,900 $824 8,513$35,302 $529
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$40K under $50K212,593$44,799 $1,192 12,052$45,292 $929
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$50K under $60K167,723$54,791 $1,544 15,607$55,168 $1,372
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$60K under $75K188,394$67,083 $1,948 26,887$67,566 $1,877
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$75K under $100K209,766$86,533 $2,608 43,315$87,171 $2,662
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$100K under $200K313,229$135,456 $4,549 107,975$143,677 $4,893
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$200K under $500K82,465$279,190 $10,552 73,915$296,315 $10,991
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$500K under $1M8,658$664,751 $26,377 14,957$678,417 $25,365
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$1M and over3,212$2,248,454 $89,535 8,236$3,289,095 $117,996
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Average2,255,039$66,058 $2,042 319,782$256,860 $9,057
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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 The type of deductions used is inferred using federal rules and taxpayer return data. The relationship between the applicable standard deduction compared to reported federal AGI, federal taxable income, and itemized deductions were used to categorize returns as Standard or Itemized. Returns with zero or negative federal AGI are not categorized as Standard or Itemized because their taxable income cannot be reduced further.
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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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