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Retirement tax questions
Can't graduate fellowships be reported as other taxable income, rather than on Schedule C where it triggers self-employment income? I'm not really self-employed as a graduate student.
The problem I'm having is that Turbotax is not correctly taking that other taxable income into account when calculating how much I'm allowed to contribute to a Roth IRA. It's only looking at "earned income," despite the change in the tax code starting Jan. 1, 2020, with the Graduate Student Savings Act.
March 1, 2021
6:39 PM