My taxable income is 17,936 and it says my blended tax rate is 46.2% and I owe 8,281. How is this possible??

dpitt22 · ‎July 14, 2020

SusanY1 · ‎July 14, 2020

Do you have self-employment income? (Income reported on Form 1099-MISC.) This sounds like you are also paying self-employment tax which is an additional 15.3% on top of your standard income tax.

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Bees · ‎July 14, 2020

It's not. Go back to the income page and check your information. You probably added a extra digit to your income or you put something in twice. Walk away from the computer, fix yourself a cup of tea and go back over what you entered. It will pop out at you.

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My taxable income is 17,936 and it says my blended tax rate is 46.2% and I owe 8,281. How is this possible??