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Get your taxes done using TurboTax
Hello! I appreciate the clarification and the information! So it sounds like the effective and marginal rates are more relevant here than the blended tax rate?
So in the above snip from the my Turbo Tax return where it says the effective rate is 8.57%, is the $4955 total tax amount correct (even though 8.57%/0.0857 multiplied by the $57,801.00 income technically equals $4953.55)?
As in the calculator snip above - I think that’s where I’m getting confused because the math keep giving me a $4953.55 total and not the $4955 total showing from Turbo Tax.
appreciate your help!
April 12, 2025
6:59 PM