Single / Head of Household Phaseout $150,000 -- $275,000
The deduction is reduced by $100 for every $1,000 your MAGI exceeds the threshold. If your MAGI is 200K, that means your OT deduction is reduced by $5K (50 x 500). Did you have more than 5K in OT? If you had less than $5K, there is no deduction. What is the new tax law for overtime pay?
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