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Tips and Overtime Exclusion
Can you explain the mechanics for excluding income from tips and overtime pay? Will I be required to enter my income from tips and overtime pay into Turbo Tax? How will Turbo Tax deduct my tips and overtime pay from my tax return? Will this deduction be done before or after my Adjusted Gross Income (AGI)?
Reason for this question is AGI is used by Social Security to determine how much IRMA I must pay for my Medicare Part B and Part D.
Many thanks for your response.
8 hours ago