Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 18, 2024 11:41:10 AM

My taxable income is close to last year.. but why would my blended tax rate change from 15.2% to 32.6%

0 2 348
2 Replies
Expert Alumni
Jan 19, 2024 7:21:51 AM

This is a very difficult question to answer without viewing your tax return but the only reason that makes any sense is that the nature of your income has changed.  Either you have self-employment income this year that you didn't have last year or last year some part of your income was made up of long term capital gains and this year it was not.

 

If neither of these situations apply then there is something more that is wrong and you need to get a second set of eyes on your return before you file it.

 

@tommylindsey-ver 

Level 15
Jan 19, 2024 7:37:15 AM

Look at your form 1040s side by side for 2022 and 2023 to see what changed. You may see the reason or you may see a mistake.