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How does Turbotax calculate the average tax rate displayed in the graphical summary page?
On the Summary Graphical page, when I divide the Taxable Income by the Tax Payable, I get an average tax rate which is consistently higher by a few percent than the Average Tax rate listed below on the summary graphical page.
I have checked and found this apparent discrepancy in various tax returns and in various tax years (2023,2022, 2021). Is this an error or what am I missing in the calculation?
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March 7, 2024
11:13 AM