topic why is my taxable income only $2532 but the tax rate as high as 162.4%? in Retirement tax questions

why is my taxable income only $2532 but the tax rate as high as 162.4%?

zoeliu916 — Tue, 03 Feb 2026 09:16:43 GMT

is your system calculated right ?

Re: why is my taxable income only $2532 but the tax rate as high as 162.4%?

Vanessa A — Fri, 21 Feb 2025 15:30:20 GMT

Can you provide more info on what types of income you have?

Without knowing what type of income you have, one scenario could be that you are self-employed and took a self-employed health insurance deduction which lowered your taxable income but does not affect your self-employment taxes. This would leave you paying the 15.3% SE taxes on the amount of health insurance you deducted. So if you deducted $12,000 in insurance premiums, that would still leave you with $1,836 in SE taxes.

If you are not self-employed, then please respond with what types of income you have and a little more detail.

Re: why is my taxable income only $2532 but the tax rate as high as 162.4%?

SteamTrain — Fri, 21 Feb 2025 15:36:14 GMT

Already answered multiple times....at least 4 repeat posts so far covering the same thing.