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Here's how to compare Romney's tax rate with yours
Jan 24, 2012 12:45 PM

If you've wondered how your effective federal tax rate compares with that of Republican presidential candidate Mitt Romney, here's how to figure it out:

For your 2010 taxes:

If you used Form 1040 (the long form):
Line 20 22 is your total income.
Line 60 is your total federal tax.
Divide your total federal tax by your total income. That's your effective federal tax rate.

If you used Form 1040A:
Line 15 is your total income.
Line 37 is your total tax.
Divide your total tax by your total income. That's your effective tax rate.

For 2010, Mitt and Ann Romney's effective federal tax rate was 13.9 percent. Here's their federal return from 2010 if you want more details.

On Mitt and Anne Romney's estimated 2011 return, which has yet to be filed, their effective federal tax rate was 15.4 percent. Here's their estimated 2011 return.

—Tobie Stanger

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