TomK2023
Expert Alumni

Get your taxes done using TurboTax

Two ways to determine your effective tax rate are to:

 

1). Divide your tax liability (what you owe) by your AGI  (i.e. gross income before deductions).  (Line 24 / Line 11 of your 1040)

 

Or...

 

2). Divide your tax liability (what you owe) by your Total Tax.  (Line 24 / Line 15 on your 1040)

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