Where does the Blended Tax Rate come from

[RobertB4444]

Please clarify - was this $59,000 earned by a corporation or an individual?  

An individuals blended tax rate for $59,000 should be around 15%.

@rnelle512 

[seattlebee]

There is definitely a bug in the system....according to Turbo Tax I actually owe more taxes than I even made in taxable income this year..... 101.2% blended tax rate!!

Total Income		$16,722
Deductions		- $14,132
Taxable Income		= $2,590
Blended Tax Rate		x 101.2%
Tax LiabilityThis is how much you were supposed to pay in taxes.		= $2,622

[DianeW777]

Please provide more clarification.  

1. What type of income do you have?
   • Self employment income does have an additional tax plus your personal income tax.
2. Do you have dependents?
3. What is your filing status?

These are just a few questions that might provide additional guidance to allow an explanation.  If  you add this information one of our tax experts will help.

@seattlebee 

[Kgeilhart15]

Did you ever get this figured out? My taxable income is just over $2000 and I owe almost $3000 shows my rate is 172%

[DawnC]

Do you owe self-employment tax?   Go back through your tax return and double-check all of your entries.    The blended tax rate is:   Tax Liability / Taxable Income - it is not used in the tax return.   Preview your Form 1040 and check these lines:

Line 15 - Taxable Income

Line 24 - Total Tax

Line 25 - Withholdings

Line 33 - Payments including Credits

Line 34 - Overpayments

Line 37 - Tax owed

@Kgeilhart15