PatriciaV
Expert Alumni

Get your taxes done using TurboTax

After reviewing your token return, the calculations appear correct. 

The computation of Effective Tax rate % is consistent with the formula TurboTax uses for this metric: 

Tax from Form 1040 Line 18 (TY 2023) divided by Adjusted Gross Income on Line 11 (TY 2023).

 

You can also find these amounts on the Tax Summary as Tentative Tax and Adjusted Gross Income.

 

There are several formulas used to calculate effective tax rate, but this is the one used in TurboTax.

 

The line for Form 2210 penalty has no amount for 2023 and prior years are unique (not the same as Amount Owed). If this is different from what you have in your return, there may be other issues that need research.

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