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question everything

(47,264 posts)
Fri Feb 18, 2022, 06:44 PM Feb 2022

Blended tax rate?

I decided to give TurboTax another chance after they screwed up royally last year, beyond redemption. But I could not delete whatever was on there already.

So far so good, working from my spreadsheet and everything is fine except... the amount that we owe in taxes makes no sense.

Why? They take our taxable income - after deduction - and multiply it by 3%! Blended tax rate.

What? I google it and it applies to corporations!

Their specialist could not help, agreed that deleting and starting over may be the way.

Urggg



3 replies = new reply since forum marked as read
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Blended tax rate? (Original Post) question everything Feb 2022 OP
I wonder if it is possible Unwind Your Mind Feb 2022 #1
Thanks, I wondered, too. But it is easier to start over question everything Feb 2022 #2
Have some blended scotch whiskey and start over. n/t PoliticAverse Feb 2022 #3

Unwind Your Mind

(2,027 posts)
1. I wonder if it is possible
Fri Feb 18, 2022, 06:51 PM
Feb 2022

That when you set up your account, you may have accidentally marked that you were a corporation? It seems unlikely because a corp would have an EIN not a SSN. But something to check.

question everything

(47,264 posts)
2. Thanks, I wondered, too. But it is easier to start over
Fri Feb 18, 2022, 07:24 PM
Feb 2022

Already entered most of the income and so far the counter is green - refund.

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