No, you cannot deduct the full $13,605. The deduction is based on the difference between your overtime rate and regular pay. This is referred to as the premium or .5 amount. If you receive double time for your overtime only the .5 amount over your regular pay is deductible.
If your OT rate is time and a half, you will divide the $13,605 by 3 to arrive at the deductible amount.
If your OT rate is double time, then you will divide by 4 to arrive at the deductible amount.
Also, the total deduction is limited to $12,500 if you are single or head of household. If you are married, the total deduction for the entire return is $25,000.
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