I would say that TurboTax could make its cover letter more clear about this. The effective tax rate in my TurboTax cover letter was "wrong" when I did the same calculation. I realized that the "effective tax rate" it was calculating excluded Other Taxes from line 62; it was based on line 56 only. That sort of makes sense -- my "Other Taxes" was additional payroll taxes, so unless it was going to add in withheld Medicare/SS taxes, to keep it apples-to-apples it makes sense to use "Effective [Income] Tax Rate." But the income-only tax amount is not shown on the cover letter. So from the numbers available to you there, it looks like TurboTax just botched the arithmetic.
