SOI Tax Stats - SOI Bulletin: Winter 2022


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Sole Proprietorship Returns, Tax Year 2019PDF

by Adrian Dungan

For Tax Year 2019, there were approximately 27.8 million individual income tax returns that reported nonfarm sole proprietorship activity, a 2.6-percent increase from Tax Year 2018. Total receipts reported by nonfarm sole proprietorships increased 3.1 percent, while deductions increased 3.3 percent, and profits rose 1.9 percent to $355.2 billion in 2019. In constant dollars, total receipts rose by 1.3 percent, deductions rose by 1.4 percent, and profits increased by 0.1 percent. Total profits as a percentage of business receipts were 21.7 percent for the year, down from 21.9 percent for the prior year.

Related Link: Nonfarm Sole Proprietorship Statistics

High Income Tax Returns for Tax Year 2018PDF

by Justin Bryan

Detailed data on individual income tax returns with adjusted gross income or expanded income greater than $200,000 are now available on SOI’s Tax Stats webpage. This annual study also looks at high-income, nontaxable returns and the reason for nontaxability. For Tax Year 2018, there just under 8.7 million U.S. Individual Income Tax Returns (Forms 1040) with an expanded income of $200,000 or more, accounting for 5.6 percent of all returns for the year. Of these, 7,201 returns had no worldwide income tax liability. This was a 34.5-percent decrease over the number of returns with no worldwide income tax liability for 2017. It was the seventh decrease in the past 9 years, and well below the peak of 19,551 returns for 2009.

Related Link: Individual High Income Tax Returns

Sales of Capital Assets Data Reported on Individual Tax Returns, Tax Years 2013–2015PDF

by Janette Wilson and Christopher Williams

This article presents Tax Years 2013, 2014, and 2015 cross section data for the sale of capital assets. Total realized capital gains less losses increased by 35.3 percent from $539.9 billion in Tax Year 2013 to $730.7 in Tax Year 2014, then declined 6.1 percent in Tax Year 2015 to $685.9 billion (an overall increase of 27.0 percent). Of these gains, passthrough entities and corporate stock sales made up the largest categories reported by taxpayers in each year. Taxpayers with an AGI over $1,000,000 overwhelmingly reported the highest capital gains less losses of any AGI group for the 3-year period. In 2013, these taxpayers reported net gains of $304.6 billion and increasing amounts in both 2014 and 2015, first to $454.5 billion and then to $460.4 billion.

Related Link: Sales of Capital Assets Reported on Individual Tax Returns