@Hal_Al wrote:
@nd13 You can't have your cake and eat it too.
If you want the income to not be subject to self employment tax (social security and Medicare tax), you have to enter it as taxable scholarship. That means it's not earned income and therefore does not qualify you for an IRA contribution.
No, the SECURE act included a provision that stipends for graduate students and postdoctoral fellows that meet certain conditions are treated as "compensation" for purposes of contributing to an IRA, even though they are not "earned income" for any other purpose.
https://www.forbes.com/sites/simonmoore/2019/12/23/if-youre-a-graduate-student-the-secure-act-makes-...
The trick is entering it correctly in Turbotax, which apparently requires going through the Education deduction interview instead of the 1099 income interview.
