Can someone help me understand why my blended tax rate is 22% when my taxable income was $6,559? It doesn't make sense to me.
10% (my blended tax rate) of $8,851 (my taxable income) is $885 (rounded to the nearest dollar). Why is turbo tax calculating it to be $888?
My taxable income for 2023 is $26,000 but turbotax has my blended tax rate at 28.7%, anyone know why?
Taxable inc is 262,514. Status is married-filing joint. TurboTax says tax is 50,295 (19.2% blended rate). 2023 tax computation worksheet from the instructions is 49,803?