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bassmanzh
New Member

How do i go about calculating my overtime tax benefit? my work didnt include it on my w2

My company didnt do the break down for my overtime tax benefit. that being said i suppose i have to break that all down my self but at my job i also have over time premiums after 8 hours and for work times starting before 6 am. we also receive automatic overtime premium on Saturdays as well and it is my understanding that the elidable tax benefit is for the overtime premium after the 40 hours worked which i do of course hit most weeks
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1 Reply
MarilynG1
Employee Tax Expert

How do i go about calculating my overtime tax benefit? my work didnt include it on my w2

Yes, if you know the number of overtime hours you worked, you can multiply that by your overtime wage.  If you enter that amount in TurboTax, it will calculate 1/3 of that amount for the deduction. You're correct about the 'after 40 hours'.

 

Here's more info about the Overtime Deduction.

 

@bassmanzh 

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