It depends. Is the amount shown in box 14 your Total dollar amount of overtime for the year? Or is it the amount of overtime hours.
The TurboTax software can do the calculation of the tax free amount for you. Select the option Help me calculate my eligible overtime
Example -
If your regular pay is $20 an hour, and your overtime pay is $30 an hour, then your premium pay is $10 (the difference between your regular and overtime pay).
If you worked 10 hours of overtime, then you would enter $100 ($10 premium pay x 10 hours).
