Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Effective tax rate on the Federal Summary is incorrect
Effective tax rate on the Federal Summary is incorrect
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mknaub
Level 2
03-10-2022
04:34 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The effective tax rate on the Lacerte Federal Tax Summary is incorrect because of the additional Child Tax Credit. In prior years, the entire credit was up in the credit section. Now it is in the payments section, so when the effective tax rate is calculated, it doesn't include the credits, which makes the comparative rates way off. My clients pay attention to the number, so it is confusing. I would suggest you calculate the effective rate after the refundable credits, to make the rate comparative to 2020.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
