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I had a qualified overtime deduction, filled in the box as instructed (14). And selected "other" as instructed. But the deduction wasn't applied. Do I have to amend now?

I called the same night but the rep couldn't help. I now have an email that IRS has accepted, but my refund is half what it should be.
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JamesG1
Employee Tax Expert

I had a qualified overtime deduction, filled in the box as instructed (14). And selected "other" as instructed. But the deduction wasn't applied. Do I have to amend now?

If qualified overtime deduction was not deducted on your tax return and your tax return has been accepted by the IRS, you will have to amend.

 

To qualify for the deduction:

 

  • Maximum annual deduction is $12,500 ($25,000 for joint filers).
  • Deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers).
  • The deduction reduces federal income tax liability, it does not exempt overtime pay from Social Security and Medicare taxes.  Employees will still owe these taxes on their overtime earnings.
  • Taxpayers filing as married filing separately are not eligible for the deduction.
  • The deduction is available for both itemizing and non-itemizing taxpayers.

If your return has been transmitted and rejected by the IRS, you can correct your tax return and re-transmit.

 

If your return has been transmitted and accepted by the IRS, you will have to amend your Federal 1040 tax return.  However, before amending your tax return, do not enter the return and do not make any changes.

 

If your return has been transmitted and accepted by the IRS, you will not be able to electronically file a second tax return with another service. 

 

Amended tax returns will not be available before the middle of February.  See forms availability here.

 

If you used TurboTax Online, log in to your account and select Amend a return that was filed and accepted.

 

If you used the CD/download product, sign back into your return and select Amend a filed return.

 

See also this TurboTax Help.


 

 

 

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