Why does it say I will receive over 1000$ from overtime but my return is less than 400$

[JohnB5677]

We don't have access to your tax return, and I don't know where you saw that message. or exactly what it said.

• With that said, a $1,000 deduction would be at least $10,000 in overtime.
• The deduction appears on the second page of your 1040 on line 13b.
• This may include other deductions.

You can view your 1040 tax return and the supporting three schedules in the online version of TurboTax.

1. On the left menu, scroll down to Tax Tools.
2. If necessary, click the side arrow and select Tools. 
3. A box will appear in the middle of the screen.
4. Select View Tax Summary.
5. A tax summary will appear.
6. On the left side menu bar select Preview My 1040.
7. This will bring up a copy of your 1040 Tax return.
8. If you continue to scroll down, Schedules 1,2 & 3 are available if they were required.

Some key numbers on the form are:

• Taxable income is line 15
• Total tax is line 24
• Federal Income Tax withheld is line 25d
• Tax credits are listed on 27 - 30
• If there was an underpayment, there may be a penalty
• Refund is posted to line 34
• Amount you Owe is line 37

[VolvoGirl]

Like the new tax provision for tips, the new provision for overtime introduces a deduction for qualified overtime income up to $12,500 for tax years 2025 through 2028 and phases out for income above $150,000. While this deduction can lower your taxable income, it is not a dollar-for-dollar reduction of your taxes and the actual tax savings will depend on your tax rate.