13 States Where People Earn the Most From Their Investments

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At the end of the day, the value of an investment really comes down to net capital gains. These are the profits you make when you sell an asset such as a stock or a real estate investment property. You don’t see net capital gains until you sell an asset, and how much they’re taxed depends on how long you’ve held the asset.

Across the U.S., people are selling assets and connecting net capital gains everyday, but there are regions where we see people making more money off their investments than in other regions. These realized gains not only add net worth to an individual or household, they can also help fuel a local economy through tax revenues and increased spending. 

SmartAsset recently ranked U.S. states by the average net capital gains. Other types of investment gains were also considered. These are the 13 states where people made the most off their investments. The data, collected by SmartAsset in 2025, is from the latest tax return release (2022 tax year) from the IRS. Here’s a look at the top states.

13. Colorado 

• Average net capital gains: $40,367
• Average taxable interest: $2,694 
• Average tax-exempt interest: $6,724 
• Average ordinary dividends: $10,981  
• Average qualified dividends: $8,538

12. Idaho 

• Average net capital gains: $41,085  
• Average taxable interest: $2,520 
• Average tax-exempt interest: $5,360 
• Average ordinary dividends: $8,903
• Average qualified dividends: $6,849

11. New Hampshire 

• Average net capital gains: $44,235 
• Average taxable interest: $1,965 
• Average tax-exempt interest: $6,906
• Average ordinary dividends: $10,778 
• Average qualified dividends: $8,539

10. Tennessee

• Average net capital gains: $44,834 
• Average taxable interest: $2,182 
• Average tax-exempt interest: $7,073 
• Average ordinary dividends: $10,433 
• Average qualified dividends: $8,434

9. California 

• Average net capital gains: $45,490 
• Average taxable interest: $2,537 
• Average tax-exempt interest: $9,879 
• Average ordinary dividends: $13,724
• Average qualified dividends: $10,751

8. Massachusetts

• Average net capital gains: $47,346 
• Average taxable interest: $2,485 
• Average tax-exempt interest: $7,575 
• Average ordinary dividends: $13,507 
• Average qualified dividends: $10,726

7. New York 

• Average net capital gains: $48,271
• Average taxable interest: $4,110 
• Average tax-exempt interest: $10,084 
• Average ordinary dividends: $14,987 
• Average qualified dividends: $11,626

6. Connecticut

• Average net capital gains: $49,914
• Average taxable interest: $4,568 
• Average tax-exempt interest: $9,708 
• Average ordinary dividends: $18,385 
• Average qualified dividends: $15,312

5. Utah 

• Average net capital gains: $51,745 
• Average taxable interest: $2,725 
• Average tax-exempt interest: $7,213 
• Average ordinary dividends: $10,015 
• Average qualified dividends: $7,776

4. Texas 

• Average net capital gains: $52,926 
• Average taxable interest: $3,231 
• Average tax-exempt interest: $9,046 
• Average ordinary dividends: $13,420 
• Average qualified dividends: $10,928

3. Nevada 

• Average net capital gains: $77,491 
• Average taxable interest: $4,395 
• Average tax-exempt interest: $12,978 
• Average ordinary dividends: $17,308 
• Average qualified dividends: $13,756

2.  Wyoming 

• Average net capital gains: $84,246
• Average taxable interest: $4,804 
• Average tax-exempt interest: $12,016 
• Average ordinary dividends: $30,728
• Average qualified dividends: $26,119

1. Florida

• Average net capital gains: $84,911
• Average taxable interest: $5,552 
• Average tax-exempt interest: $15,226 
• Average ordinary dividends: $21,724 
• Average qualified dividends: $17,828

Sources

• SmartAsset, “Where Americans Earn the Most From Investments – 2025 Study” (April 23, 2025)

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