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Retirement tax questions
@Opus 17 Hi! I was reading your statement about how being a teacher's assistant might not even count as compensation and that "even if you are paid extra, it is considered part of your education. If participating as a teaching assistant is not required, or if you teach additional classes beyond the degree requirement, payment for that participation would be considered compensation."
How do I know if I fall under the category of "education" or "compensation"? I mean I'm paid every two weeks just like any other TA is supposed to be paid in my department. I mean my Ph.D program DOES require all Ph.D students to be a TA in a particular class. What are the indicators that my job as a TA is considered part of "education" versus "compensation"? How do I know for sure what category the IRS has my job listed as? I mean I presume I can ask my school administratraion / payroll department but I have a good feeling that they don't know this or are not very smart about this stuff (I've communicated with them regarding other situations / questions before and they were not very helpful at all)
Lastly, if my TA job is indeed categorized as "compensation" (rather than "education"), what documentation do I need to provide to the IRS come tax filing time? Just so that they won't penalize me for contributing to the Roth IRA?
I really appreciate your help!