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Education
Actually the answer is yes & no.
Scholarships are not earned income for purpose of refundable credits like EIC. It is not earned income for eligibility for an IRA contribution*.
It is earned income for purposes of calculating a student-dependent's Standard deduction.
*Scholarship and fellowship payments are compensation for IRA purposes only if shown in box 1 of Form W-2.
‎June 6, 2019
7:02 AM