The Feasibility of Producing Personal Income to Adjusted Gross Income (PI-AGI) Reconciliations by State
This paper studied the feasibility of reconciling BEA state personal income (SPI) and IRS adjusted gross income (AGI) at the state level. After reviewing data sources from BEA, IRS, and other agencies, it was concluded that it is feasible to prepare accurate reconciliations of state level wages and salaries. Further work is needed to determine the feasibility and value of reconciling BEA SPI and IRS AGI for other components of personal income—such as proprietors’ income, personal current transfer receipts, and dividends, interest, and rent. A limitation in reconciling these other income components is that BEA relies heavily upon IRS data to make its estimates. Thus, only limited insights might be obtained from the reconciliation.
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