I have run into something new for me. I have a college student who does not claim inself as a dependent for himself but is claimed by his father. On his W2 in box 14 is an amount for TERP $450. I entered this as reported but do not understand what it is or how it is handled by the software. Can you shed some light?
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Isn't box 14 just informational? I didn't think the software would do anything with it, but you might need to know what it is (sorry, can't help you there) in case you do need to do something. The one thing I usually see in box 14 is union dues which I would have to manually enter on Sch A. -
I just googled "TERP" and "college student" and the first hits all had to do with the University of Maryland. But farther down was this:
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