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Retirement tax questions
Dana,
I am using the premier version of TurboTax. You stated "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." I do not see any prompt in the IRA section that asks about graduate studies.
In the education section, under the 1098-T section, I checked the box graduate student, as directed by other advisors on this board.
There is also a prompt that says "did your aid include amounts not awarded for 2022 expenses?" I checked "no", because all of the award was for 2002.
Then there is a prompt "did you pay for room and board with a scholarship or grant" - I said yes, because that is what my fellowship is for. How much ....was used to pay the expense, I inserted all of my taxable scholarship money here.
However, I still cannot make an IRA contribution without getting a penalty, and on my state taxes the amount from schedule 1, line 8r transfers as unearned income. Which because I am a post-graduate fellow it should be earned income.
I have spend hours on this. I'm hoping you can help me.