Newly released IRS data put the top-1% cutoff at about $748,000 nationally, ranging from about $426,000 in West Virginia to $1.1 million in Washington, D.C.
Only D.C. and Connecticut clear $1 million; nationally, the cutoff rose less than inflation in the latest year.
Wages make up 81% of income for the bottom half of filers, but just 35% for the top 1%, with capital gains accounting for another 22%.
The top 1% starts in a very different place depending on where you file your taxes.
The IRS's newly released state data put the income floor for the top 1% nationally at about $748,000 in adjusted gross income (AGI), according to an Investopedia **** ysis. The data was from 2023 but adjusted to 2026 dollars. In D.C., it takes about $1.1 million, while in West Virginia, it's about $426,000.
#income
Only D.C. and Connecticut clear $1 million; nationally, the cutoff rose less than inflation in the latest year.
Wages make up 81% of income for the bottom half of filers, but just 35% for the top 1%, with capital gains accounting for another 22%.
The top 1% starts in a very different place depending on where you file your taxes.
The IRS's newly released state data put the income floor for the top 1% nationally at about $748,000 in adjusted gross income (AGI), according to an Investopedia **** ysis. The data was from 2023 but adjusted to 2026 dollars. In D.C., it takes about $1.1 million, while in West Virginia, it's about $426,000.
#income
3 days ago
