Solved: Why is it saying my effective tax is -.36%??
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Why is it saying my effective tax is -.36%??

I had to pay an extra penalty on a 401k I cashed out. On the front breakdown page it thinks that’s all the money I paid on total tax. Is my return still okay bc it has the other taxes listed on the breakdown worksheets???
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Why is it saying my effective tax is -.36%??

The worksheet here has nothing to do with the accuracy of your return, so you have nothing to worry about there.  It looks like our calculation  of effective tax rate is not designed for returns with extra penalties on them though.  This is simply a calculation done for your own interest  and it is not filed anywhere but I will  pass along a possible need to review the calc in certain situations when Development is not so pressed for time..

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Highlighted
New Member

Why is it saying my effective tax is -.36%??

The worksheet here has nothing to do with the accuracy of your return, so you have nothing to worry about there.  It looks like our calculation  of effective tax rate is not designed for returns with extra penalties on them though.  This is simply a calculation done for your own interest  and it is not filed anywhere but I will  pass along a possible need to review the calc in certain situations when Development is not so pressed for time..

View solution in original post

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New Member

Why is it saying my effective tax is -.36%??

Thank you!!
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New Member

Why is it saying my effective tax is -.36%??

Thank you for taking the time to report this!
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New Member

Why is it saying my effective tax is -.36%??

No problem!! Thanks again!!
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