overtime pay

[Debst99]

I have a client that has overtime pay listed on their W-2.  On the worksheet it has total overtime at 150%, so I put it there.  Then  it says a calculated deductible Amount($), which totals up to 33% of the total overtime.  Do I list the 33% or 100% of the overtime?  Thank you.

[ljr]

client had a w-2 with an amount - turns out it was the 1/3 amount - also had paystub so I can see the full amount. Unfortunately, there was no note or indication on the w2 to tell us it was just the "premium" amount. Proseries needs the full amount input in the 150% box and it will calculate the 1/3 on the return. ask for the paystub to double check

[Debst99]

Doesn't he get to deduct the full amount of overtime pay, not 1/3? 

[ljr]

no they get to deduct only the "premium" amount which is 1/3 of the total amount of overtime - if they only give you the 1/3 amount you need to calculate it back up to full and input that - program does the division 

[Debst99]

I just got the ending paycheck..  This is what it says YTD PTO=$3429.54.  The W-2 shows in Box 14 $1243.92 for OVR TME.  This is 36%.  So what figure do I use for the deduction?  Thank you so much.  It is so confusing.,

[IRonMaN]

PTO is not overtime.

[abctax55]

PTO = Paid Time Off 

Not overtime.