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Retirement tax questions
Here is an IRS link that discusses Scholarships, Fellowship Grants, and Other Grants. The IRS has a tool that will help you determine if the fellowship should be included as income or not.
If it is deemed taxable income, then according to the SECURE Act of 2019, non-tuition fellowship and stipend income when included in taxable income now counts as compensation in order to make an IRA (both traditional and Roth) contribution.
‎April 1, 2021
7:46 AM