SUPPLEMENTAL DATA FOR THE JOINT CBO/JCT REPORT ─ THE DISTRIBUTION

OF ASSET HOLDINGS AND CAPITAL GAINS

Prepared by the Staff

of the

JOINT COMMITTEE ON TAXATION

August 4, 2016

JCX-67-16
i

CONTENTS

Page

INTRODUCTION .......................................................................................................................................................................................1

Supplemental Data .......................................................................................................................................................................................2

Exhibit A-1 Number of Families, by Income, 2010 ..............................................................................................................................2

Exhibit A-2 Number of Taxpayers, by Income, 2013 ...........................................................................................................................3

Data Underlying the Figures........................................................................................................................................................................4

Introduction Figure. Net Capital Gains Reported on Individual Tax Returns and Taxes Owed on Those Gains, 1954

to 2013 ...................................................................................................................................................................................................4

Exhibit 2. Comparison of Maximum Statutory Tax Rates on Long-Term Capital Gains and on Other Investment Income,

1977 to 2016 ..........................................................................................................................................................................................7

Exhibit 5. Proportion of Families That Owned Capital Assets and the Average and Median Value of Those Assets, by Type

of Asset, 2010 ........................................................................................................................................................................................9

Exhibit 6. Proportion of Families That Owned Capital Assets, by Income Group and Type of Asset, 2010 .....................................10

Exhibit 7. Distribution of Value of Capital Assets Among Income Groups, by Type of Asset, 2010 ................................................11

Exhibit 8. Average Value of Capital Asset Holdings, by Income Groups, 2010 ................................................................................12

Exhibit 9. Composition of Capital Asset Holdings, by Income Group, 2010 .....................................................................................13

Exhibit 10. Proportion of Families That Owned Capital Assets and the Average Value of Their Holdings, by Age Group 2010 ....14

Exhibit 11. Proportion of Families That Owned Capital Assets, by Income Group and Age Group, 2010........................................15

Exhibit 12. Change in the Value of Capital Assets, by Type of Asset, 2004 to 2010 .........................................................................16
ii

Exhibit 15. Proportion of Tax Returns With Net Capital Gains or Net Capital Losses, by Type of Asset, 2010...............................17

Exhibit 16. Average and Median Values of Net Capital Gains and of Net Capital Losses, by Type of Asset, 2010 .........................18

Exhibit 21. Net Capital Gains as a Share of a Household’s Total Market Income, by Market Income Group, 2010.........................19
1

INTRODUCTION

This document1

provides background information to the Joint CBO/JCT Report ─ The Distribution of Asset Holdings and 

Capital Gains. This document provides supplemental data regarding the distribution of families by income group from the Survey of 

Consumer Finances2 and the distribution of taxpayers by income group from tax returns filed in 2010.

This document also provides the data underlying certain charts and figures in the Joint CBO/JCT Report ─ The Distribution of 

Asset Holdings and Capital Gains.

As a joint CBO/JCT report, the supplemental data as well as the underlying report is available at both www.jct.gov and 

www.cbo.gov/publications/51831. 

 

 1

 This document may be cited as follows: The Joint Committee on Taxation, Supplemental Data for The Joint CBO/JCT Report ─ The Distribution of 

Asset Holdings and Capital Gains (JCX-67-16), August 4, 2016. This document can also be found on the Joint Committee on Taxation website at www.jct.gov. 

2

 Board of Governors of the Federal Reserve System, 2010 Survey of Consumer Finances.
Income Group (Dollars) Millions of Families Perce

$0 to $50,000.............................................................................................. 60.5 

$51,000 to $100,000................................................................................... 32.3 $101,000 to $200,000................................................................................. 15.3 $201,000 to $500,000................................................................................. 4.5 

$500,001 to $1,000,000.............................................................................. 1.1 

Greater than $1,000,000.............................................................................. 0.5 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer FinancA family consists of an individual or couple who owns a given residence or who signed the lease for it and any dependents living aIncome includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm ntax-exempt interest; dividends; net capital gains; other gains or losses; total distributions of pensions, individual retirement accounSecurity benefits; and unemployment compensation. Families who reported negative income are excluded from the lowest income group but are included in the calculations of the perc

Exhibit A-1

Number of Families, by Income, 2010

2
Income Groups (Dollars) Millions of Taxpayers Perce

$0 to $50,000.............................................................................................. 91.1 $51,000 to $100,000................................................................................... 30.6 $101,000 to $200,000................................................................................. 14.4 $201,000 to $500,000................................................................................. 3.7 $500,001 to $1,000,000.............................................................................. 0.6 Greater than $1,000,000.............................................................................. 0.3 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the individual income tax return stati

Statistics of Income Division of the Internal Revenue Service.

A taxpayer may be either a person who files an individual tax return or a married couple who files a joint return.Income includes wages and salaries; income from rental real estate, royalties, partnerships, S corporations, estates, and trusts; busi

taxable and tax-exempt interest; dividends; net capital gains; other gains or losses; ; the taxable distributions of pensions, individuaannuities; taxable Social Security benefits; and unemployment compensation. Taxpayers who reported negative income are excluded from the lowest-income group but are included in the calculations of the pe

Exhibit A-2

Number of Taxpayers, by Income, 2010

3
Calendar Year Net Capital Gains Taxes Ow

1954........................................................................................... 1.8 1955........................................................................................... 2.3 1956........................................................................................... 2.2 1957........................................................................................... 1.7 1958........................................................................................... 2.0 1959........................................................................................... 2.5 1960........................................................................................... 2.2 1961........................................................................................... 2.8 1962........................................................................................... 2.2 1963........................................................................................... 2.3 1964........................................................................................... 2.5 1965........................................................................................... 2.9 1966........................................................................................... 2.6 1967........................................................................................... 3.2 1968........................................................................................... 3.8 1969........................................................................................... 3.1 1970........................................................................................... 1.9 1971........................................................................................... 2.4 1972........................................................................................... 2.8 1973........................................................................................... 2.5 1974........................................................................................... 2.0 1975........................................................................................... 1.8 1976........................................................................................... 2.1 1977........................................................................................... 2.2 1978........................................................................................... 2.1 1979........................................................................................... 2.8 [Introduction Figure continued on the next page]

Percentage of Gross Domestic Product

Introduction Figure

Net Capital Gains Reported on Individual Tax Returns and Taxes Owed on Those Gains, 1954 to 2013

4
Calendar Year Net Capital Gains Taxes Ow

1980........................................................................................... 2.6 1981........................................................................................... 2.5 1982........................................................................................... 2.7 1983........................................................................................... 3.4 1984........................................................................................... 3.5 1985........................................................................................... 4.0 1986........................................................................................... 7.1 1987........................................................................................... 3.0 1988........................................................................................... 3.1 1989........................................................................................... 2.7 1990........................................................................................... 2.1 1991........................................................................................... 1.8 1992........................................................................................... 1.9 1993........................................................................................... 2.2 1994........................................................................................... 2.1 1995........................................................................................... 2.4 1996........................................................................................... 3.2 1997........................................................................................... 4.2 1998........................................................................................... 5.0 1999........................................................................................... 5.7 2000........................................................................................... 6.3 2001........................................................................................... 3.3 2002........................................................................................... 2.4 2003........................................................................................... 2.8 2004........................................................................................... 4.1 2005........................................................................................... 5.3 [Introduction Figure continued on the next page]

Introduction Figure -- Continued

Net Capital Gains Reported on Individual Tax Returns and Taxes Owed on Those Gains, 1954 to 2013

Percentage of Gross Domestic Product

5
Calendar Year Net Capital Gains Taxes Ow

2006........................................................................................... 5.8 2007........................................................................................... 6.4 2008........................................................................................... 3.4 2009........................................................................................... 1.8 2010........................................................................................... 2.6 2011........................................................................................... 2.6 2012........................................................................................... 4.0 2013........................................................................................... 3.1 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the Department of the Treasury. 

Net capital gains are the difference between a taxpayer’s gains and losses. In this figure, gains are reduced by losses incurred in 

and those carried over from previous years. Both short-term and long-term net gains are included; net gains that resulted from sheld by taxpayers through their shares of entities such as partnerships, S corporations, estates, and trusts are also included.

Net Capital Gains Reported on Individual Tax Returns and Taxes Owed on Those Gains, 1954 to 2013

Introduction Figure -- Continued

Percentage of Gross Domestic Product

6
Calendar Year Other Investment Income L

1977............................................................................................................ 70.0 1978............................................................................................................ 70.0 1979............................................................................................................ 70.0 1980............................................................................................................ 70.0 1981............................................................................................................ 69.1 1982............................................................................................................ 50.0 1983............................................................................................................ 50.0 1984............................................................................................................ 50.0 1985............................................................................................................ 50.0 1986............................................................................................................ 50.0 1987............................................................................................................ 38.5 1988............................................................................................................ 28.0 1989............................................................................................................ 28.0 1990............................................................................................................ 28.0 1991............................................................................................................ 31.0 1992............................................................................................................ 31.0 1993............................................................................................................ 39.6 1994............................................................................................................ 39.6 1995............................................................................................................ 39.6 1996............................................................................................................ 39.6 1997............................................................................................................ 39.6 1998............................................................................................................ 39.6 1999............................................................................................................ 39.6 2000............................................................................................................ 39.6 2001............................................................................................................ 39.1 [Exhibit 2 is continued on the following page]

Percentage of Tax Rate

Exhibit 2

Comparison of Maximum Statutory Tax Rates on Long-Term Capital Gains and on Other Investment Income, 

7
Calendar Year Other Investment Income L

2002............................................................................................................ 38.6 2003............................................................................................................ 35.0 2004............................................................................................................ 35.0 2005............................................................................................................ 35.0 2006............................................................................................................ 35.0 2007............................................................................................................ 35.0 2008............................................................................................................ 35.0 2009............................................................................................................ 35.0 2010............................................................................................................ 35.0 2011............................................................................................................ 35.0 2012............................................................................................................ 35.0 2013............................................................................................................ 43.4 2014............................................................................................................ 43.4 2015............................................................................................................ 43.4 2016............................................................................................................ 43.4 Source: Joint Committee on Taxation and the Congressional Budget Office. The statutory tax rate is specified by law. In the individual income tax code, the statutory rates apply to each additional dollar o

investment income; those rates rise as taxable income increases. The statutory rates shown are the highest in the schedule of raThe changes in the statutory rates that were implemented in 1978, 1981, and 1997 became effective during the year (rather than In those cases, the exhibit shows the maximum statutory rate that was in effect for most of the year.

Exhibit 2 -- Continued

Comparison of Maximum Statutory Tax Rates on Long-Term Capital Gains and on Other Investment Income, 

Percentage of Tax Rate

8
Asset Type Average 

Mutual Funds...................................................................................... 8.7 387 Bonds [1]............................................................................................ 1.6 587 Stocks................................................................................................. 15.1 203 Privately Owned Businesses............................................................... 13.2 781 Real Estate Other Than Personal Residences...................................... 18.6 391 All Capital Assets Except Personal Residences.................................. 36.2 691 Personal Residences............................................................................ 67.3 261 All Capital Assets............................................................................... 72.4 588 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer FinanFor the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accountscall or cash accounts at brokerages, tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such aantiques, jewelry, and collectibles). [1] Includes Treasury bills and notes but excludes Treasury savings bonds.

Exhibit 5

Proportion of Families That Owned Capital Assets and the Average and Median Values of Those Assets, by Typ

Average and Median V

(Thousands 

Proportion of Families 

That Owned Each Type of 

Asset

(Percent)

 9
Income Groups (Dollars) Personal Residence

Any Capital Asset Other 

Than Personal Residence 

Less than $0.................................................................................. 24.6 9.8 

$0 to $20,000................................................................................ 38.0 12.8 $20,001 to $30,000....................................................................... 55.1 21.8 $30,001 to $40,000....................................................................... 66.3 26.8 $40,001 to $50,000....................................................................... 69.2 30.7 $50,001 to $75,000....................................................................... 78.8 40.8 $75,001 to $100,000..................................................................... 83.8 46.3 $100,001 to $200,000................................................................... 90.7 65.8 Greater than $200,000................................................................... 94.6 90.1 

Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer FinanceFor the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts, mcash accounts at brokerages, tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such as personajewelry, and collectibles).Income includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm ntax-exempt interest; dividends; net capital gains; other gains or losses; total distributions of pensions, individual retirement accountSocial Security benefits; and unemployment compensation.

Exhibit 6

Proportion of Families That Owned Capital Assets, by Income Group and Type of Asset, 2010

Percentage of Families

 10
Asset Type $0 to $50,000 $50,001 to $100,000 $100,001 to $200,000 $200,001 to $500,000 $500,001 t

Mutual Funds............................................................ 7.5 11.2 16.1 23.3 2Bonds [1].................................................................. 2.6 4.2 13.6 20.8 2Stocks....................................................................... 7.0 11.2 13.9 25.1 1Privately Owned Business........................................ 8.4 8.2 14.0 22.0 1Real Estate Other Than Personal Residences........... 14.7 16.3 21.7 22.9 1All Capital Assets Except Personal Residences........ 9.7 11.2 16.5 22.8 1Personal Residences................................................. 24.0 27.0 23.8 14.7 6All Capital Assets..................................................... 15.6 17.7 19.5 19.4 1Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer Finances.For the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts, money market funds, call or ca

tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such as personal vehicles, antiques, jewelry, and collectibles).Income includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm net income; taxable and tax-exegains; other gains or losses; total distributions of pensions, individual retirement accounts, and annuities; total Social Security benefits; and unemployment compe[1] Includes Treasury bills and notes but excludes Treasury savings bonds.

Exhibit 7

Distribution of Value of Capital Assets Among Income Groups, by Type of Asset, 2010

Percentage of Asset Type Value Owing to Income Group

 11
Income Group (Dollars) Personal Residences

All Ca

pital Assets Exce

pt 

Personal Residences 

$0 to $50,000........................................................................................ 0.2 0.2 $50,001 to $100,000............................................................................. 0.2 0.2 $100,001 to $200,000........................................................................... 0.3 0.5 $200,001 to $500,000........................................................................... 0.7 1.7 $500,001 to $1,00,000.......................................................................... 1.2 4.0 Greater than $1,000,000....................................................................... 1.8 15.7 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer FinanAverage values are based only on those families that reported holding assets.For the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accountsfunds, call or cash accounts at brokerages, tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (vehicles, antiques, jewelry, and collectibles).Income includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm taxable and tax-exempt interest; dividends; net capital gains; other gains or losses; total distributions of pensions, individual retireand annuities; total Social Security benefits; and unemployment compensation. 

Exhibit 8

Millions of Dollars

Average Value of Capital Asset Holdings, by Income Group, 2010

 12
Income Group (Dollars) Mutual Funds Bonds [1] Stocks

Privately Owned 

Business

Real 

Th

R

$0 to $50,000...................................................................... 3.8 0.4 3.3 12.9 $50,001 to $100,000........................................................... 5.0 0.5 4.6 11.1 $100,001 to $200,000......................................................... 6.6 1.6 5.2 17.2 $200,001 to $500,000......................................................... 9.5 2.4 9.5 27.2 $500,001 to $1,00,000........................................................ 15.2 4.2 10.8 30.6 Greater than $1,000,000..................................................... 9.8 5.3 11.7 48.4 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer Finances.For the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts, money market funds, call otax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such as personal vehicles, antiques, jewelry, and collectibles).Income includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm net income; taxable and taxnet capital gains; other gains or losses; total distributions of pensions, individual retirement accounts, and annuities; total Social Security benefits; and unemp[1] Includes Treasury bills and notes but excludes Treasury savings bonds.

Exhibit 9

Composition of Capital Asset Holdings, by Income Group, 2010 

Percentage of Income Group Asset Value Owing to Asset Type

 13
Age Group Personal Residence

Any Capital Asset 

Other Than 

Personal Residence Any Capital Asset Personal Residence

Any 

Pers

Under 35........................................................................................... 37.5 22.1 46.9 170 

35 to 44............................................................................................. 63.8 30.3 69.7 238 45 to 54............................................................................................. 75.2 40.8 78.7 294 55 to 64............................................................................................. 78.1 46.3 81.7 306 65 to 74............................................................................................. 82.6 43.1 85.4 271 75 or Older....................................................................................... 81.9 40.7 85.2 232 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer Finances.For the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts, money market funds, call or cabrokerages, tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such as personal vehicles, antiques, jewelry, and collectibles).

Average Value of Holdin

Proportion of Families That Owned Capital Assets (Percent) (Thou

Exhibit 10

Proportion of Families That Owned Capital Assets and the Average Value of Their Holdings, by Age Group, 2010

 14
Income Group (Dollars) Under 65 All Ages 

$0 to $20,000.......................................................................................... 33.2 41.5 $20,001 to $30,000................................................................................. 48.3 60.0 $30,001 to $40,000................................................................................. 63.9 69.4 $40,001 to $50,000................................................................................. 68.2 75.5 $50,001 to $75,000................................................................................. 81.3 82.3 $75,001 to $100,000............................................................................... 89.6 91.4 $100,001 to $200,000............................................................................. 95.3 95.2 Greater than $200,000............................................................................ 99.0 99.1 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Survey of Consumer FinanFor the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts

call or cash accounts at brokerages, tax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such aantiques, jewelry, and collectibles).Income includes wages and salaries; income from rental real estate, royalties, partnerships, and S corporations; business and farm tax-exempt interest; dividends; net capital gains; other gains or losses; total distributions of pensions, individual retirement accounSocial Security benefits; and unemployment compensation. 

Exhibit 11

Proportion of Families That Owned Capital Assets, by Income Group and Age Group, 2010

Percentage of Families

 15
Calendar Year Mutual Funds Bonds [1] Stocks

Privately Owned 

Businesses

Real E

Tha

Re

2004 to 2007..................................................... 21.7 -11.6 14.2 38.9 

2007 to 2010..................................................... -8.2 -0.1 -25.4 -21.8 

Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the Survey of Consumer Finances from 2004, 2007, and 2010For the purposes of this report, capital assets do not include checking accounts, savings accounts, money market deposit accounts, money market funds, caltax-preferred retirement accounts, certain other financial assets, or nonfinancial assets (such as personal vehicles, antiques, jewelry, and collectibles).Before calculating the percentage change in value, dollar amounts were adjusted to remove the effects of inflation using the price index for personal consum[1] Includes Treasury bills and notes but excludes Treasury savings bonds.

Exhibit 12

Change in the Value of Capital Assets, by Type of Asset, 2004 to 2010

Percent Change

 16
Asset Type 

Mutual Funds....................................................................................................................................................... Bonds [1].............................................................................................................................................................. Corporate Stocks.................................................................................................................................................. Put and Call options and Commodities................................................................................................................. Partnerships, S Corporations, and Fiduciaries...................................................................................................... Land including Farmland, Livestock, and Timber................................................................................................ Business Property................................................................................................................................................. Residential Rental Property.................................................................................................................................. 

Personal Residence............................................................................................................................................... Other.................................................................................................................................................................... Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Sale of Capital Assets Cros

compiled by the Statistics of Income Division of the Internal Revenue Service. 

Net capital gains for each type of asset are the difference between a taxpayer’s long-term gains and losses from sales of that type ocapital loss occurs when that difference is negative. The figure reflects only those net gains and net losses that resulted from sales directly owned by taxpayers.[1] Includes Treasury notes but excludes Treasury savings bonds.[2] Less than 0.05 percent.

Exhibit 15

Proportion of Tax Returns With Net Capital Gains or Net Capital Losses, by Type of Asset, 201

Percentage of Tax Returns

 17
Asset Type Average Value Median Value Average Value 

Mutual Funds.............................................................................. 7,214 1,152 -7,197 Bonds [1].................................................................................... 8,798 709 -6,504 Corporate Stocks......................................................................... 28,871 2,318 -14,120 Put and Call Options and Commodities...................................... 27,505 1,515 -15,159 Partnerships, S Corporations, Estates, and Trusts....................... 60,137 2,284 -33,158 Land, Including Farmland, Livestock, and Timber..................... 39,074 11,648 -34,900 Business Property....................................................................... 27,283 12,433 -58,331 Residential Rental Property......................................................... 52,957 18,639 -65,883 Personal Residences [2].............................................................. 50,931 3,614 N.A. Other........................................................................................... 45,269 3,458 -35,010 Source: Joint Committee on Taxation and the Congressional Budget Office, using data from the 2010 Sale of Capital Assets Cross Sect

the Statistics of Income Division of the Internal Revenue Service. 

Net capital gains for each type of asset are the difference between a taxpayer’s long-term gains and losses from sales of that type of asseoccurs when that difference is negative. The figure reflects only those net gains and net losses that resulted from sales of assets directly Average and median values of net gains are based only on tax returns reporting net gains; average and median values of net losses are breporting net losses.Net losses are reported in full, although under current law a taxpayer may deduct only up to $3,000 of those losses from ordinary incomlosses exceeding that amount to a future year. Losses carried over from previous years are omitted from the exhibit.[1] Includes Treasury notes but excludes Treasury savings bonds.[2] Losses on the sale of personal residences are not deductible; however, a small number of taxpayers reported such losses on their tax  limitation in the data set, CBO and JCT chose not to report losses from sales of personal residences.N.A. = Not Applicable

Exhibit 16

Dollars

Net Gains N

Average and Median Values of Net Capital Gains and of Net Capital Losses, by Type of Asset, 2010

 18
Income Percentiles 

1st to 80th Percentiles................................................................................................................................... 81st to 90th Percentiles................................................................................................................................ 91st to 95th Percentiles................................................................................................................................. 96th to 99th percentiles................................................................................................................................ Top 1 Percent............................................................................................................................................... Source: Joint Committee on Taxation and the Congressional Budget Office.The underlying data were previously published as supplemental material for Congressional Budget Office, The Distribution of HFederal Taxes, 2010 (December 2013), www.cbo.gov/publication/44604.Net capital gains are the difference between a taxpayer’s gains and losses. In this exhibit, both short-term and long-term net gains afrom assets indirectly held by households through their shares of entities such as partnerships, S corporations, estates, and trusts. Lprevious years are also included; individual taxpayers’ total net losses were capped at $3,000. Market income consists of labor income (including amounts allocated by employees to 401(k) plans; employment-based health ins

employer’s share of Social Security, Medicare, and federal unemployment insurance payroll taxes; and the share of corporate incombusiness income, net capital gains, other capital income, income received in retirement for past services, and certain other sources include government transfer payments, such as Social Security payments.A household is considered to consist of the people who share a housing unit, regardless of their relationship to one another. In addifiled tax returns, this exhibit includes households in which no member filed a tax return.Income groups were defined by ranking households by market income, which was adjusted for household size to account for the eclarger households. Percentiles (hundredths) contain approximately equal numbers of people but different numbers of households. Hincome are excluded from the lowest-income group.

Exhibit 21

Net Capital Gains as a Share of a Household’s Total Market Income, by Market Income Group, 2010

Percentage of Market Income

 19