Thanks for this post. For years, I thought I was going crazy because TurboTax's "effective tax rate" most assuredly never equals TotalTax/AGI nor does it equal TotalTax/TaxableIncome
It's annoying as heck.
Yet, Intuit's help info says, "Your 'effective tax rate' is the average percentage of your taxable income that you owe in federal taxes. In order to calculate this rate, you simply divide your tax liability (what you owe) by your total taxable income."
I wish Intuit would fix this or explain what they're really doing.
