Get your taxes done using TurboTax

The blended tax rate can be very confusing.  I recommend looking at the actual tax return.

From the left sidebar

1. Select Tax tools

• You may have to minimize both the Federal and State options by clicking the Down Arrows on the Sidebar.
• You will then clearly see Tax Tools
• Click the arrow to up to see additional options

1. Click Tools
2. A Menu will pop up
3. Select View tax summary
4. On the left panel click Preview my 1040

Some Key numbers to compare:

• 11 Adjusted Gross Income
• 12 Deductions
• 15 Taxable income
• 16 Tax
• 33 Total Payments
• 34 Overpayment
• 35a Refund
• 37 Amount you owe

It will fluctuate based on income, but also based on how certain income is taxed.

• If you had Capital gains, a home business or other special taxes, they would be a factor.
• Also, tax credits are not deducted from the total tax for the calculation.

The Blended tax rate is calculated under Federal / Federal Review

• To access it, all questions must be answered in the Federal Review.
• At the end of the questions. Look at the bottom of the screen
• It will say Get a detailed view of your numbers

The Blended Tax rate is: 1040 Line 18 divided by Line 15

• Tax liability, Total Tax Line 18
  • Including SE tax, capital gain and special taxes
• Taxable income, Line 15
  • Total income minus deductions, but before credits

To compare Blended rates from previous years you will need the earlier tax returns.