Turbo Tax 2021 - Calculation of marginal tax rate

[kasmca]

Thank you.  I called support and shared my screen to show that my Marginal Tax rate displayed as 15% in the quick summary is incorrect.  Taxable income is between 50-100K so even on step 5 of the T1 the Federal Marginal Tax rate is already 20.5% which is more than the 15% shown.  Add on 9.15% for the provincial Marginal Tax bracket in Ontario (Form ON428), the marginal tax rate should be 29.65%, not 15%.

The support analyst indicated that I would need to speak to a tax expert to resolve this.   Because I have the Standard version, it would cost $54.99 to consult with a tax expert.  I will not be doing this.

They did say that they would escalate this internally to see if it is a bug.  If it is someone would be back to me.  If it is not they will not.  I received and email confirmation indicating the case was closed, however I still don't think the issue is resolved.

[TurboTaxBrenda1]

Here is a great TurboTax article on how the marginal tax rate is calculated.

How is the Marginal Tax Rate calculated?

Thank you for choosing TurboTax.

[Mudfush]

The issue isn't 'how to calculate the marginal tax rate' - but rather that Turbotax gives a wildly inaccurate percentage as your marginal tax rate rather than the correct one. Better to NOT even quote a marginal tax rate than give an inaccurate rate. This 'bug' has been in Turbotax for years and STILL isn't corrected.

[TurboTaxGinette]

Thank you for your feedback, we value your opinion and have shared this information with the proper TurboTax team.

Thank you for choosing TurboTax.

[INDY99]

You're 100% right on!

Same exact error for TT2024. My spouse's taxable income is much higher than mine and is in the top bracket. TT summary shows that we both have similar average tax rate of about 35%, but her marginal rate shows as 33% and mine shows 50%. Obviously incorrect!

[TurboTaxAniqua]

Thank you for your feedback; we value your opinion and have shared this information with the proper TurboTax team. Please note that you can also go to the CRA website and check your amount there. How to calculate your marginal rate.