Hi there - I believe you might mean that you entered a T4 for $14K and it showed a refund of $550. TurboTax would automatically begin calculating the Working Income Tax Benefit (WITB) for your return, which is how you saw the refund. When you entered the T2202A - which means you are a student, that removed the WITB as students are not eligible for that benefit. Here is some more information on the WITB off the CRA site: http://www.cra-arc.gc.ca/bnfts/wtb/menu-eng.html 

If you need more help, since you are on TurboTax 20 Returns, you can also contact a Live Tax Advice agent for free if you have more questions.