Effective tax rate

[derek-gianino]

Once I've inputted all income, is it possible to see my effective tax rate prior to actually printing and submitting my returns?

[LeeM · Accepted solution]

Yes, once logged into your return, select My Account (from the top right of the screen), then Tools, View Tax Summary and Preview My 1040 (it's in the gray bar at the top of the screen).

To determine your effective tax rate, divide your tax (line 45) by your taxable income (line 43). Both lines are on page 2 of your Form 1040. 

[derek-gianino]

Thanks!

[LeeM]

My pleasure!