I figured out how TurboTax is calculating Effective Tax Rate, and it appears to be correct when figured against AGI. The issue is the "Total Tax" includes self-employment tax (FICA & Medicare) paid and the Effective Tax Rate excludes self-employment tax (correctly). Tax paid w/o self-employment tax is $7435, which is 5.41% of AGI.
Would be nice if the cover sheet summary reminded users that the Total Tax is not Income Tax but includes other taxes paid via the 1040 reporting process.
