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Your blended tax rate is the same as your effective tax rate. Your effective tax rate is the average rate you pay on all your taxable income. This includes federal and state income tax and self-employment tax. For more information, see .What Are Tax Brackets? - TurboTax Tax Tips & Videos - Intuit
Thank you MaryK1101...I think I understand now. So, the Turbotax calculation of my effective tax rate to be 47.9% is not a bug? Not incorrect? And not abnormal? Why does Turbotax call it "Blended Tax Rate" and not "Effective Tax Rate" ?
The two terms mean the same thing. TurboTax chooses to use blended. Personally the term seems more descriptive to me – a mix of all the various taxes you pay. Other people may think effective sounds better.
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