Federal Reserve Economic Data: Your trusted data source since 1991

Individual Income Tax Filing: Total Deductions (DDMT)

Observation:

2016: 2,187,065,561 (+ more)   Updated: Dec 19, 2018 1:31 PM CST
2016:  2,187,065,561  
2015:  2,158,046,457  
2014:  2,082,944,983  
2013:  2,037,244,743  
2012:  2,036,119,111  
View All

Units:

Thousands of U.S. Dollars,
Not Seasonally Adjusted

Frequency:

Annual

NOTES

Source: U.S. Department of the Treasury. Internal Revenue Service  

Release: SOI Tax Stats - Historical Data Tables  

Units:  Thousands of U.S. Dollars, Not Seasonally Adjusted

Frequency:  Annual

Notes:

In general, represents the sum of standard and itemized deductions from AGI to compute "taxable income" (the tax base for the regular income tax), but also includes deductions in excess of AGI that could not be used in the computation. Deductions erroneously reported on returns with no AGI were excluded from the deduction statistics. Also Includes "additional" standard deductions for age 65 or over or for blindness (for changes in the standard deduction and its relation to the zero bracket amount, see Statistics of Income-Individual Income Tax Returns, for appropriate years). Total itemized deductions are after statutory limitation.

For additional information about the return filing requirements, see the annual reports, Statistics of Income-Individual Income Tax Returns at https://www.irs.gov/uac/soi-tax-stats-historical-data-tables.

Suggested Citation:

U.S. Department of the Treasury. Internal Revenue Service, Individual Income Tax Filing: Total Deductions [DDMT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DDMT, May 19, 2024.

RELEASE TABLES

SOI Tax Stats - Historical Data Tables

Subscribe to the FRED newsletter


Follow us

Back to Top
Top