Exactly what line items does TT use to calculate the effective tax rate % as shown on the Tax History Report?
I have used different combinations of Tax, Tax +Total Credits, Tax+Total Credits+Other Taxes.
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Two ways to determine your effective tax rate are to:
1). Divide your tax liability (what you owe) by your AGI (i.e. gross income before deductions). (Line 24 / Line 11 of your 1040)
Or...
2). Divide your tax liability (what you owe) by your Total Tax. (Line 24 / Line 15 on your 1040)
I did.
and it isn't correct.
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