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Get your taxes done using TurboTax
You are able to download previous years to file your taxes as well such as 2016, 17, etc. However, the year isnt really relevant to the question. The answer most likely is the same for all years. What I'm trying to do is my taxes but online Federal taxes is stated at 15% (based on this source and many others, https://www.bankrate.com/taxes/2016-tax-bracket-rates/) but TurboTax is filing mine as 9.42% and I want to be sure this is correct and if it is how can this be? I understand that investments and certain expenses can reduce your taxable income but is it possible to have a lower Federal tax rate even though the bracket I'm in, it says it should be 15%?
‎April 28, 2021
10:34 AM