IRS: Taxpayers' Adjusted Gross Income Jumped 5% in 2010

For tax year 2010, U.S. taxpayers showed a jump in total adjusted gross income to $8.0 trillion, a 5.2 percent increase from 2009, according to preliminary figures just released by the Internal Revenue Service.
Taxpayers filed 142.9 million U.S. individual income tax returns for 2010, an increase of 1.7 percent from the 140.5 million returns filed for 2009, the IRS said.
The tax year 2010 data shows increases in many categories.
Taxable income jumped 6.9 percent to $5.5 trillion; total income tax increased by 8.8 percent to $0.9 trillion; and total tax liability increased by 8.4 percent to $1 trillion.
The largest component of AGI (adjusted gross income) – salaries and wages – increased 2.1 percent from $5,797.1 billion in 2009 to $5,920.2 billion in 2010.
Most notably, net capital gains increased 33.1 percent from $240.5 billion in 2009 to $320.1 billion in 2010.
The second largest component of AGI – taxable pensions and annuities – increased 6.9 percent from $531.1 billion for tax year 2009 to $567.7 billion for 2010.
See all of the latest data from the IRS.

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