How to enter stipend income and Roth IRA contribution:
- Federal Taxes
- Deduction & Credits
- Scroll down to Education
- Select Expenses and Scholarships
- Take your time and follow the prompts.
- "Did (your name) receive a scholarship or grant in 2020?" Please enter your stipend in other Scholarships/Grants/Fellowships; this will ensure that the stipend flows to Schedule 1 Other income (no need to enter as other reportable income). Public Law 116–94, defines fellowship stipend payments for graduate students and postdoctoral researchers as compensation for the purpose of contributing to an individual retirement arrangement (IRA) account. Graduate students and postdoctoral scholars receiving a fellowship stipend do not need to receive Form W-2 to legally contribute to an IRA.
When entering the Roth IRA contribution be sure to identify as a graduate student and how much of the taxable scholarship was used for graduate/postdoctoral study. This appears to get rid of the excess contribution warning message.
https://www.faseb.org/journals-and-news/washington-update/irs-clarifies-guidance-for-fellowship-stip...
