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February 14, 2020
Question

Tax Rate

  • February 14, 2020
  • 1 reply
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Why has my tax rate increased from 2018 to 2019 even though my taxable income remained in the same tax bracket? 

    1 reply

    SusanY1
    February 14, 2020

    If your marginal tax rate is higher, even though your top tax bracket is the same, this is usually either because you have fewer credits on your tax return in 2019 versus 2018 or you have more income - and all of that income was subject to your highest marginal tax rate. 

     

    If you prepared your taxes using TurboTax last year, you can see a side by side summary of many of those key items by taking a look at your Tax Summary, here is how to do that:

     

    1. Log in to your tax return at TurboTax.com.
    2. Click on Tax Tools on the left side of the screen (you may need to click on Continue in the center first).
    3. Click on Tools.
    4. In the box that pops up in the center, click on View Tax Summary.

     

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