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I cannot find my effective tax rate. Another post said that a summary page can be found under Tax Tools in the lefthand navigation pane... but I don't have that option.

 
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3 Replies
RayW7
Expert Alumni

I cannot find my effective tax rate. Another post said that a summary page can be found under Tax Tools in the lefthand navigation pane... but I don't have that option.

You can find your effective tax rate in the forms section of your 2020 tax return.  Look for 'Return Summary Page'

 

TurboTax divides your total tax by your total income to get the effective tax rate.

 

This figure is just informational, it does not appear on your tax return or affect the amount of tax that you pay. 

 

To switch to Forms Mode, open your return and click the Forms icon in the upper-right corner of your screen (or choose Forms from the View menu at top).

The 1040 Worksheet will display and all the forms in your return will be listed on the left side. Simply select a form to open it.

To switch back to the interview, click the Step-by-Step icon in the upper right corner, or choose it from the View menu.

Tips

  • In Step-by-Step mode, you can view the underlying tax form by clicking Show Relevant Form near the bottom of your screen. Not all screens will have this, only those where the input relates directly to a tax form.
  • It's OK to switch to Forms Mode if you want to look at a form or two, but constantly toggling back and forth between Forms Mode and Step-by-Step has been known to cause problems and data corruption.

I cannot find my effective tax rate. Another post said that a summary page can be found under Tax Tools in the lefthand navigation pane... but I don't have that option.

@RayW7 

I could not find "return summary page."  I used help and search for that, and manually scanned everything I could.

 

I could not find a Forms icon, or the view menu, or the Step-by-step icon.

 

The effective tax rate was really just a part of what I wanted... I am looking for the whole summary page.

 

Thank you for you help!

I cannot find my effective tax rate. Another post said that a summary page can be found under Tax Tools in the lefthand navigation pane... but I don't have that option.

@hilger2000   @RayW7 

 

The "Online" version does not have a "Forms Mode".......

 

For the Online version, if you want to see the "effective" tax rate,

1)  you have to get into your tax file first..(not just logged in....actually inside your 2020 file) 

2)  Then use the Tax Tools selection on the left side 

3)  Then select Print Center and continue in thru there

4)   Select Federal...and ....

....4a)  sub-Selection of "Just my tax return(s)" will show a Summary sheet on the first page that shows the 2020 "effective " rate.

....4b)  or use the sub-selection of "Include government and TurboTax worksheets (optional)"  ...that PDF will contain a 5-year tax history report showing the 4 prior year's "effective" rates too....but it will only contain the prior years if you have used the same Online account for successive years....without a break.

________________________________

the "effective" rate is only a handwaving number...supposed to be based on Tax assessed/AGI, but sometimes gets warped by certain tax credits.  Some folks have reported very strange numbers at times, like over 100%, or negative % values.

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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