2307273
I don't understand how TurboTax comes up with this Effective Tax Rate;
Adjusted Gross Income $ 118,087.00
Taxable Income $ 73,590.00
Total Tax $ 45,043.00
Effective Tax Rate 6.72%
Seems a lot higher than 6.72%...
And does that Total Tax look right?
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from the total tax subtract any self-employment tax.
The calculation also uses the gross income not the AGI.
SE tax is about $14,000
Gross was about $130,000
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