@jzlthssw wrote:
I was thinking the same - but Turbotax Business will "routinely" move it to the "employee wages and salaries" category - the "standard", pre-COVID, place, which will cause a mismatch with the W-2. Shouldn't TurboTax 2020 know the CARES Acts Section 127 deduction is an anomaly? Thanks!
I don't use the program, I can't answer that. Tuition reimbursement up to $5250 is a tax-free benefit. Can you list the loan payment in the place where you would list tuition? It's the same section of the tax law. If tax-free tuition payments are getting moved to wages, I can't explain that.
However, remember that the overall $5250 limit still applies, tuition and loan payments aren't covered by different limits.
@Hal_Al @DoninGA @pk do you know anything about this behavior?
