For box 14 I dont understand how im supposed to categorized tips or hours or overtime. Is it other/ not classified?

[crystalsnyder7]

What category do i choose for TT QUAL O and TP QUAL TI ?

[DoninGA]

Yes, use Other/Not Classified as the category

[Vanessa A]

Overtime and Reported Tips should be drop downs available. 
 

For box 14, if you have tips listed you would choose the drop down category of reported tips.  

For Overtime, you would choose the drop down category of Overtime.  

Then after you finish entering the W-2 and his continue you will be asked about uncommon situations, you do not need to check the boxes for tips or OT if you are reporting them in box 14.  (IF the dropdowns for tips and overtime were not available, you will check the boxes here on this screen indicating tips and overtime)  After that screen you will be asked questions to determine if you qualify for the OT and Tips deductions.

In order to claim tips, the following must apply:

• The tips MUST be reported.  If they are not reported on a form to the IRS you cannot claim them for the no tax on tips deduction.
  • If employed they need to be reported on your W-2 or form 4137
  • If self-employed, they must be reported on a 1099.  If you received them as cash, they are not deductible. 
• Your income must be below $150,000 if you are single or less than $300,000 if Married Filing Jointly.  Above these amounts, the deduction starts to fade out and is not available at all for those with income over $400,000 for single and $550,000 for Married Filing Jointly.
• You can not claim this deduction if you are Married Filing Separately
• You receive tips from an occupation that normally and customarily receives tips
• Self-employed, deduction may not exceed individual’s net income, without regard to this deduction, from the trade or business in which the tips were earned.
•  

 To qualify the No Tax On Overtime Deduction the following must apply:

• You must be a non-exempt employee eligible for Overtime under the federal Fair Labor Standards Act
• The Overtime must be on hours worked OVER 40 hours.  (if you live in a state where OT pay is required after 8 hours, this does not apply)
• Overtime must be paid at more than your regular hourly rate.  
• Your filing status cannot be Married Filing Separately
• Your income must be less than $150,000 if you are single or $300,000 if Married Filing Jointly.