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Get your taxes done using TurboTax
There is no standard or official definition of "effective tax rate." Different people have different opinions about what it means and how to calculate it. TurboTax's definition of effective tax rate is different from yours.
TurboTax doesn't say exactly how they calculate the effective tax rate that they display. Basically they use total tax divided by Adjusted Gross Income (AGI). But they make adjustments for certain credits or "other taxes."
‎December 30, 2023
4:00 PM