The density of donor-like state distributions in solution-processed indium–zinc-oxide (IZO) thin-film transistors (TFTs) is thoroughly analyzed using photon energy irradiation. This study focuses on quantitatively calculating the distribution of density of states (DOS) in IZO semiconductors, with a specific emphasis on their variation with indium concentration. Two calculation methods, namely photoexcited charge collection spectroscopy (PECCS) and photocurrent-induced DOS spectroscopy (PIDS), are employed to estimate the density of the donor-like states. This dual approach not only ensures the accuracy of the findings but also provides a comprehensive perspective on the properties of semiconductors. The results reveal a consistent characteristic: the Recombination–Generation (R-G) center energy ET, a key aspect of the donor-like state, is acquired at approximately 3.26 eV, irrespective of the In concentration. This finding suggests that weak bonds and oxygen vacancies within the Zn-O bonding structure of IZO semiconductors act as the primary source of R-G centers, contributing to the donor-like state distribution. By highlighting this fundamental aspect of IZO semiconductors, this study enhances our understanding of their charge-transport mechanisms. Moreover, it offers valuable insight for addressing stability issues such as negative bias illumination stress, potentially leading to the improved performance and reliability of solution-processed IZO TFTs. The study contributes to the advancement of displays and technologies by presenting further innovations and applications for evaluating the fundamentals of semiconductors.