July 11, 1991
Newly Released Statistics Show
Rise in 1989 Adjusted Gross Income
Individual income tax return statistics for 1989 show adjusted
gross income to be nearly $3.3 trillion, according to the Spring
1991 issue of the Internal Revenue Service quarterly publication,
the "Statistics of Income Bulletin" available now.
That $3.3 trillion is an increase of 6.8 percent over 1988,
according to the Bulletin. Other preliminary data on individual
income tax returns in this issue indicate a sharp rise of 15.5
percent in taxable interest and a decline of 6.2 percent in net
capital gains. Itemized deductions increased 7.5 percent, even
though the personal interest deduction dropped by almost 51 percent.
Total income tax rose from $412.9 billion for 1988 to $439.4 billion
for 1989, an increase of 6.4 percent.
An analysis of private foundation returns for 1986 and 1987
explains the changes in foundation revenue, and the impact of stock
market conditions and the Tax Reform Act of 1986. Total
constant-dollar revenue of private foundations fell by 17.2 percent,
or $3.4 billion, from 1986 to 1987, partly reflecting major declines
in contributions received and in net gains, less losses, from sales
For 1987, the largest foundations earned a median real rate of
return on investments of 1.4 percent, a large decline compared to
the 13.9 return for 1986. Nevertheless, the constant-dollar value
of grants made by foundations increased by 5.8 percent over 1986.
The bulletin also has selected historical data and other
statistics based on corporation, individual income and other tax
returns; tax collections and refunds; and projections of returns to
be filed. The historical data include a detailed analysis of 1989
individual income and tax data by state and size of adjusted gross
The "Statistics of Income Bulletin" is available from the
Superintendent of Documents, U.S. Government Printing Office,
Washington, DC 20402. The annual subscription rate is $20 for four
issues; a single issue is $7.50. It is published four times a year.
For other statistical information, write to the Director,
Statistics of Income Division, Internal Revenue Service, P.O. Box
2608, Washington, DC 20013.
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