blended tax rate doubled and I made less.

[MG26]

I don't understand how blended tax rate could've doubled when I actually made less money. I know it's said that turbotax doesn't use the blended rate but it sure looks like it. I'm unable to view the 1040 because I only have tax tools with nothing under the label to select. I know I have my return open.  My business is the same as last year self-employed (very small) with some rental income. Every dollar counts when you don't make much.

Your Tax Breakdown

                                2021         2022
Total Income      $29,774  $28,330
Deductions -      $14,722  $18,190
Taxable Income $12,207 $10,140
Blended Tax Rate x 16.8% x 33.6%
taxes                        $2,054 $3,408

[Vanessa A]

Did you enter your income the same way for both years.  It almost looks like one year you are paying self-employment tax (this year) and last year you did not.  

You said it is rental income.  Did you enter it as rental income this year or self-employment income?  What type of rental property is it?  A regular regular rental with tenants with a lease or an AirbNb type rental where you provide services.  

Self-Employment taxes are 15.3%.  If this is the case, you will find a Schedule SE in your return and also a number on line 23 of your 2022 return.  

You can view your 1040 by clicking Tax Tools>>Tools>>View Tax Summary>>Preview My 1040.

If you want to see all of your forms, you can pay for your TurboTax Online and then you will be able to go to the Print Center to see all of the forms. 

[MG26]

I think last year I got a break on the Self employment tax due to making so little (I forget what it was all about) and some of the income was unemployment. I put the rental income under real estate for sure. I would expect this year rate to be closer to 15.3% so I'm still confused about the 33.6%. I can't navigate to tools/forms. Perhaps I have to pay first but I really wouldn't want to finalize the transaction when 33.6% seems high.

[MG26]

correction, I can see tax tools now. I'll have a look.

[JohnB5677]

You can preview your tax return, as @Vanessa A said, by going to:

1. On the menu bar on the left that shows.
   1. My Info
   2. Federal
   3. State
   4. Review
   5. File
2. Select Tax Tools
3. On the drop-down select Tools
4. On the popup menu
5. Select View Tax Summary
6. On the left sidebar
7. Select Preview my 1040.
8. Schedules 1,2&3 are included if you scroll down past your 1040.
9. Self-employment tax is on Schedule 2 line 4.
10. To return to the entry screens press Back on the sidebar.

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 - Withholdings.

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.

If this does not completely answer your question, please contact us again and provide some additional details.