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Get your taxes done using TurboTax
The only thing that that stands out is if you both had w2 income last year and then one or both of you became a contractor. A w2 employee has Medicate and Social Security taxes withheld while a contractor needs to pay those taxes, called self-employment tax. SE tax is 15.3% SE tax on 92.35% of your Net Profit greater than $400. If we add last year 14% + 15% SE tax =29% which is close to what you are saying. Maybe both of you did some contract work to bump that up a bit more.
See What is the self-employment tax?
The other option is you got a 1099 of some sort that was not for work but was entered as work.
If you don't see a list of options on the left, select the hamburger icon. Then you can select tax tools to preview your return.
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‎February 23, 2025
2:22 PM