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Thanks for the quick response. We do have some of those credits this year so I'll go with your answer. Much appreciated.
How about if my AGI is 85,762, and my "total tax" is 6,077. Why is TT calculating my Effective Tax Rate to be 0.79%? That's clearly way off. Shouldn't it just be 6,077 divided by 85,762, coming out to 7.09%, rather than 0.79% as shown on the front, summary page?
I have tried everything that I can think of to find how TT came up with 0.79%, but I cannot come to that number (or even close) with any calculation of numbers that I found on my return. Shouldn't it just be a simple calculation of total tax and AGI?
Yes, your effective tax rate is a simple calculation of your total tax divided AGI. Thanks for letting us know.
Where did you even find your effective tax rate? There used to be a summary and insights kind of page on the first page of my pdf return, but now it's just the 1040 followed by alllll the other sheets.
Is it not in the downloaded PDF anymore?
You should be able to find your effective tax rate at the bottom of your 2-year comparison. It is also stated on the TurboTax Filing Instructions page if you print a copy of your return.
"Employee Tax Expert Cynthiad66"
Here is how to print the TurboTax Filing Instructions page after filing:
You need to download your tax return using Print Center and choose the option for all worksheets.
Sign onto your online account and land on the Tax Home web page
Scroll down and click on Add a state.
This will take you back to the 2019 online tax return.
Click on Tax Tools on the left side of the online program screen.
Then click on Print Center.
Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets.
If you used the download version, please see the TurboTax FAQ below:
How do I print a copy of my return filed in the TurboTax CD/Download software?
Where is line 61? I can't find it on my return.
Thank you!!
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