Are you saying that the overtime Premium is $4,000, or that the overtime wages are $4,000? Really Big Difference.
If you are using $4,000 as the overtime premium, (i.e. reducing taxable income by $4,000), then by mathematical logic, you are saying that ALL $12,000 in Box 1 are overtime wages. Which defies logic.
Overtime premium of $4,000 equals $4,000 of deduction
Overtime Wages of $4,000 will generate $,1333.33 of deduction. (assuming only time and a half, no double-time)
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