@MissMCJ wrote:
It seems to me that the What is Compensation portion needs to be updated to address the scholarship compensation changes. But "Scholarship and fellowship payments are compensation for IRA purposes only if shown in box 1 of Form W-2." seems to be the tie-breaker here.
For 2020 tax the updated (yet to be published) Pub says:
Graduate or postdoctoral study. Compensation includes
any income paid to you to aid you in the pursuit of
graduate or postdoctoral study.
Certain taxable non-tuition fellowship and stipends.
For tax years beginning after 2019, certain taxable
non-tuition fellowship and stipend payments are treated
as compensation for the purpose of IRA contributions.
Compensation will include any amount included in your
gross income and paid to aid in your pursuit of graduate or
postdoctoral study.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
