The screen you are looking at is just a summary of various pieces of tax information from your tax return. The 'blended' tax rate is not used on your actual tax return to calculate anything. If you want to see how your taxes were calculated, you need to look at your Form 1040 as well as the supplemental forms, schedules and worksheets. Your blended tax rate (tax liability divided by taxable income) is 23.5 which is rounded up to 24% on the screen.
The tax table you are looking at is for ordinary income only. Some income is taxed at different rates (Qualified Dividends/Long-Term Capital Gains are taxed at a lower rate than ordinary income). If you have any of the following included in your return, the tax table will not give you accurate results:
- Qualified Dividends and Capital Gain Tax Worksheet
- Schedule D Tax Worksheet
- Schedule J
- Form 8615
- Foreign Earned Income Tax Worksheet
And, TurboTax comes with an accuracy guarantee, see more - Your taxes done right, guaranteed
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