Thanks for the comprehensive answer to how TT is making the calculation. Their approach is way more complicated than it needs to be! In its most simple form it s/b total taxes for the year divided by taxable income; in other words, it's your average tax rate for the year.
However, I disagree with Bill, you and others who say that Effective Tax Rate is meaningless. It is simply your average tax rate for the year and it can provide a helpful data point for year to year comparisons of your tax returns.
