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Retirement tax questions
You are correct pub 590-A does state that taxable stipend income is allowed for the contribution. I was able to get the traditional IRA deduction. Follow these steps:
- Open your return to the federal income section
- Look under Less common Income
- Select Miscellaneous, Income
- Select other income not already reported on a W2
- Other wages, YES, continue, continue, continue
- Any other earned income, wages YES, continue
- Select Other for Other income, continue
- Enter stipend and amount, done
You can now go to the deductions section and enter your IRA.
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‎February 15, 2025
3:11 PM