TurboTax Tax Rate doesn't match Federal Tax Rate

[user17741975423]

Can anyone help me make sense of TurboTax calculated tax liability?

This was for 2022. I filled Single and made a total of 100,820 in taxable income. No children or credits of any kind. Just a W2 from being employed.

TurboTax calculated my tax liability to be roughly 18,000, which is around 18% of my taxable income. Looking at the tax brackets, I believe my Tax liability should have been 24%. What am I missing?

My 2022 Taxes

Federal Tax Rate

[user17741975423]

Ok, this is silly, I just realized that I didn't consider that the tax system is progressive and I was not calculating the effective tax rate.

When I do it by hand now, I do get a much closer number.

I think I found the main cause of the discrepancy and I will keep working on it until the numbers match. Thank you everyone.

[MelindaS1]

Don't worry, everything looks good with your 2022 tax and rate. Here's how this is calculated - (the rate kicks in for the income above each threshold level, not all of the income x one single rate). 

In your case:

Single Tax Table TY 2022

Not over $10,275 - 10% of taxable income

Over $10,275 but not over $41,775 - $1,027.50 plus 12% of the excess over $10,275

Over $41,775 but not over $89,075 - $4,807.50 plus 22% of the excess over $41,775

Over $89,075 but not over $170,050 - $15,213.50 plus 24% of the excess over $89,075

15213.5 + ((100820 - 89075)*.24) = 

15213.5 + 2818.8 = $18,032 rounded