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Level 2
February 28, 2025
Question

Filing as a sole proprietor, why did Turbotax determine my blended tax rate as 41.2%?

  • February 28, 2025
  • 1 reply
  • 11 views
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    1 reply

    Level 10
    February 28, 2025

    Blended tax rate is taking into consideration your taxes plus the 15.3% you pay for social security and medicare as a sole proprieter.

    almalfre6Author
    Level 2
    March 1, 2025

    Thank you for that clarification. It still seems excessively high when my taxable income was roughly 19, 500. At the most, I would expect 27.3%.

    Level 10
    March 1, 2025

    The way TurboTax computes a blended tax rate is very confusing and sometimes I wish they would just not include it.