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Retirement tax questions
Most of what was written does not apply.
A fellowship is taxable income, but it is NOT wages, is NOT earned income, and is NOT subject to FICA or self-employment taxes as long as you are enrolled in a recognized degree or post-graduate (post-doctoral) training program.
However, a fellowship can be considered "compensation" for purposes of making contributions to an IRA.
To get Turbotax to recognize the fellowship as eligible for IRA contributions, it has to be entered via the education interview, not the 1099-MISC interview. @Hal_Al has the best info on this topic.
Was that your real question, or do you have other questions?
‎June 22, 2023
12:03 PM