Hal_Al
Level 15

Education

Only grad students and post grad fellows (not undergrads) are eligible for an IRA contribution with scholarship and stipend money.

 

New for 2022: During the IRA contribution interview, you will get a screen "How much of the taxable Scholarship was for Graduate or Post-Doctoral Studies". You will need to enter the amount that applies to it here. https://ttlc.intuit.com/community/retirement/discussion/re-error-in-turbotax-handling-of-new-schedul... (screen shot)

 

In the past, you told TT that you were a grad student by checking the grad student box on the 1098-T. So, an alternate entry method is: If you don't actually have a 1098-T, enter one anyway so you can check that box (as long as you not claiming a tuition credit, a phony 1098-T is not sent to the IRS, it's just an entry tool).