I entered my overtime with my W-2 and my AGI is over the $300,000 amount where the phase out begins for married filed jointly. I received this message and my deduction is $0. The information on the TurboTax website says the phase out amount starts at $25,000 and should be reduced from there but the software seems to be taking that amount from what I claimed instead. I should be able to claim $25,000 minus $7,700 for a maximum of $17,300 which my current amount is well below.
“You have $6,984 in qualified overtime, but your income is over the phase-out threshold of $300,000.
This reduces the overtime you can deduct by $7,700, bringing your deduction to $0.”
