Overtime

[Debst99]

This is the first return I am doing with overtime.  It is not on her W-2 but her employer gave her a letter stating the overtime hours, overtime pay YTD and Overtime Premium YTD.  On the W-2 form it asks for the amount on line 14 from the W-2.  Since it is not on the W-2, do I still enter it there.  Also, since it is not on the W-2, I know I heard something about doing an attachment to the return.  I am not sure how to do that.  Thank  you.

[Just-Lisa-Now-]

scroll down down down the W2 worksheet to the OT section, no attachments needed

[IRonMaN]

99,999

[abctax55]

..  I went immediately to  " 99 beers on the wall " 🙂🍻

[IRonMaN]

As long as you are just singing that as opposed to actually doing that at work, I think you are ok. 😁

[abctax55]

I save the beer until I get home & make pizza.

Work is either tequila, or 'good' chardonnay.  

[Frustrated-in-IL]

You should try Fireball!

[dd4vols]

If they calculated it & gave me the 'Overtime Premium YTD", then I would just scroll down the W2 worksheet, to near the bottom of it, and on line 14d, I would check the NO box and put the Overtime Premium amount there.  Eliminates the worry of time and a half and double-time calcs.

[mariposanegrete]

How do I overwrite if it's giving me an error because the OT its 1/3 and it's greater than the wages in box.1 This is my second client with the same scenario. 

Tried to convert/transmit return but it would not work.

Thank you

[dd4vols]

@mariposanegrete , I'm not sure I follow what you are saying.  The amount in W2 Box 14 labeled as overtime is greater than the amount in W2 Box 1?

[mariposanegrete]

No, the amount of OT its 1/3 of the total wages in box 1, (eg: Wages 12k, OT 4k. )

I was able to overwrite the error and submit the return.

Sorry for the confusion

[dd4vols]

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)

[Debst99]

How do I attach the paper that says overtime pay YTD since it is not on a W-2?

[Just-Lisa-Now-]

you dont need to attach anything, nobody will be looking at it.