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emeraldstarr
Returning Member

Last year my blended tax rate was 79%. This year my taxable income is less, but my blended tax rate is showing as 204%. Why is turbo tax calculating it so high?

We did not have any significant life changes this year other than letting go of one of our part-time jobs. I would think a lower income would mean a lower tax bracket. So why is my blended tax rate so high?
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2 Replies

Last year my blended tax rate was 79%. This year my taxable income is less, but my blended tax rate is showing as 204%. Why is turbo tax calculating it so high?

It is an accounting term that basically has nothing to do with the tax rate that you actually pay.  I hope they get rid of it next year on TurboTax.

Last year my blended tax rate was 79%. This year my taxable income is less, but my blended tax rate is showing as 204%. Why is turbo tax calculating it so high?

that blended rate includes your self-employment tax and therefore is totally misleading.

 

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