Is there a report which enables me to compare my tax return against my peers? In other words, do most of my peer taxpayers take the standard deduction, or do they itemize? How does my medical expense deduction compare to my peers?
No, there is no such report. Tax returns are very private. Information is not shared.
I am not seeking to compare against other individuals, but against aggregate averages.
@usermatt_fergus wrote:
I am not seeking to compare against other individuals, but against aggregate averages.
The only report that would come close to what you are looking for is the Compare to U.S. Averages report in TurboTax that will be included with your tax return when you use Print Center and the option for all worksheets after the federal tax return has been filed and accepted by the IRS.
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.
This will take you back to the 2021 online tax return.
Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets
actually there is the Bureau of Labor Statistics.
this is 2019
I am looking for aggregate tax return related statistics. For example, what percentage of taxpayers similar to me itemize versus standardize deductions, etc. It does not appear BLS reports such data. Please correct me if i am wrong.
We have the "Compare to U. S. Averages" for 2022 for " income range" $200,000 - $249,999 So interesting!
salaries and wages 207,158
net capital gains 35,115
taxable IRAs 51,074
taxable pensions 64,197
taxable Social Security 32,079
total itemized deductions 40,060
taxable income 219,357
income tax 37,630
Most articles state that approx 88% of filers take the standard deduction
I am trying to find this summary for 2023
TurboTax does provide a worksheet that compares your data to a rage of U.S. averages.
It is readily available in the FORMs mode of the Desktop, but you must pay the TurboTax fee to get it Online.