If the amount of $4,900.00 is incorrect, go in and remove it and put the correct amount. The easiest way is to delete the transaction and start over and allow Turbotax to re-calculate the amounts for you. Also, go back to your W-2 to verify the amounts in Box 12.
TurboTax does not use the blended rate to calculate your taxes. The IRS specifies the method, depending on the type of income shown in your return.
To see the method used to calculate your taxes, go to the Federal 1040 and look at the Tax Smart Worksheet. To view the Tax Smart Worksheet, please follow these steps:
TurboTax Online
- While in your return, click Tax Tools > Tools (in the black bar at the left of the screen).
- Under "Other helpful links" click on View Tax Summary.
- Click on the Preview my 1040 link in the black bar.
- Using the scroll bar at the side of the 1040 window, scroll to the Tax Smart Worksheet between lines 11 and 12.
- Line A will contain the amount of tax calculated, along with an X indicating the method used to calculated your tax.
- To go back to your return, click on the Back link in the black bar.
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