Individual Income Tax Filing: Adjusted Gross Income (AGI): Farm Net Income
This dataset tracks individual income tax filing: adjusted gross income (agi): farm net income over time.
Latest Value
11506347.00
Year-over-Year Change
56.10%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Adjusted Gross Income (AGI): Farm Net Income' trend measures the net income reported by U.S. individual taxpayers from farm-related activities. This metric is a key indicator of the economic health and profitability of the agricultural sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the aggregate farm net income reported on individual income tax returns filed with the Internal Revenue Service (IRS). It provides insight into the financial performance and income composition of U.S. farming households, a critical component of the broader economy.
Methodology
The data is collected and calculated by the IRS from individual income tax filings.
Historical Context
This trend is closely monitored by policymakers, agricultural economists, and market analysts to assess the condition of the U.S. farm economy.
Key Facts
- Farm net income is a component of total adjusted gross income (AGI) for U.S. taxpayers.
- The agricultural sector accounts for approximately 1% of U.S. GDP.
- Trends in farm net income can impact government agricultural subsidies and policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net income from farming activities reported by individual U.S. taxpayers on their income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial performance and profitability of the U.S. agricultural sector, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Internal Revenue Service (IRS) from individual income tax filings.
Q: How is this trend used in economic policy?
A: Trends in farm net income are closely monitored by policymakers, agricultural economists, and market analysts to assess the condition of the U.S. farm economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update delays associated with the processing of individual income tax returns by the IRS.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Adjusted Gross Income (AGI): Farm Net Income (FMNINCA), retrieved from FRED.