turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Extension Filers on Sept 25! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
RobertG
Expert Alumni

Crazy high blended tax rate — RESOLVED

To see where this tax is coming from you can preview your 1040. Here's how:

  1. Open or continue your return.
  2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
  3. 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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies