Okay, what I was doing was dividing line 15 by line 11 which seems like a more true or assessment of your effective tax rate to me. In any case when I divide line 24 by line 11 I get 18.38% not the 5.99% as stated by the summary. I'd like to know how TurboTax got the 5.99%. Any idea?
It sounds like your tax return includes some tax credits as well.
TurboTax calculates credits as part of your effective tax rate, which a division of Line 15 or Line 24 does not include. To reach TurboTax's calculation, reduce your total tax (Line 24) by the amount of tax credits received. You will find this sum on Line 32. Then divide the result of that subtraction by your taxable income (Line 15).
(Line 24-Line32)/Line 15 should give you a more accurate figure and I would expect this number to come close to the 5.99%
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