RobertB4444
Expert Alumni

Retirement tax questions

Unless it was reported to you on a W2 a taxable scholarship generally counts as unearned income.  Unearned income is not usable as a qualification for an IRA contribution.

 

If it was reported to you on a W2 in box 1, however, it is earned income and can be used for the IRA contribution.

 

@Notsobright1 

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