Yes, the overtime exemption from OBBA is included with the W-2 entry screen. How you enter this depends on the version of TurboTax you are using.
In TurboTax Online, choose "Overtime" from the Category dropdown list for W-2 Box 14. If you don't see this dropdown, follow these steps:
- After you have entered all your W-2 information, you will come to a screen that says, "Review your box 14 info."
- On this page, choose the first option for "Overtime" from the Category dropdown list (if not already selected for you).
- Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue.
- Follow the prompts to confirm and/or enter your eligible overtime premium pay and confirm you are not an exempt employee.
In TurboTax Desktop:
- After you have entered all your W-2 information, you will come to a screen that says, "Box 14 is missing info."
- On this page, choose the last option for "Other (not classified)" from the Category dropdown list.
- Continue to the page “Let’s check for uncommon situations” and check the top box for “Overtime.”
- Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue.
- TurboTax will ask you if you need help in calculating eligible over time or if you know what to enter.
- If you know what to enter, and you are not an exempt employee, you will then enter the amount of overtime that is eligible to be deducted on the page “Enter your deductible overtime…”
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