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Crazy high blended tax rate — RESOLVED
I'm finishing my taxes, and something seems wrong. Total income is $93,093, deductions are $54,593, taxable income is $38, 500, blended tax rate is a whopping 61.3%, yielding a tax liability of $23,587.
Can anyone suggest what may have gone wrong, or explain why this would be correct?
It also shows me getting a refund of about $3,000 on my state return.
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Crazy high blended tax rate — RESOLVED
To see where this tax is coming from you can preview your 1040. Here's how:
- Open or continue your return.
- Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
- With the Tax Tools menu open, you can then:
- Select Print Center and then Print, Save, or Preview This Year's Return to preview your entire return, including all forms and worksheets (you may be asked to register or pay first). If you don't want to pay:
- View only your 1040 form by selecting Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
On the Form 1040 check line 12a to see where the tax is coming from.
Then check Schedule 2 to see if any additional taxes are coming from there.
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Crazy high blended tax rate — RESOLVED
Actually, the largest part of it turned out to be related to health insurance marketplace payments.
Thanks so much.
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