Hoping someone can help! This is the summary of my taxes. My questions are 1) if my taxable income is only $17344 isn't my tax really high; and 2) why does my effective tax rate say negative 2.98%? Isn't the calculation tax/taxable income which would be $6273 (or $4878) divided by $17344? Thank you!
2019 | Adjusted Gross Income $ 46,830.00
Federal | Taxable Income $ 17,344.00
Tax | Total Tax $ 6,273.00
Return | Total Payments/Credits $ 1,395.00
Summary | Payment Due $ 4,878.00
| Penalty/Interest $ 149.00
| Balance Due With Penalty/Interest $ 5,027.00
| Effective Tax Rate -2.98%
