Taxable scholarship for graduate student not counted for Roth IRA limit (excess contributions)

Forum|Forum|1 year ago
April 11, 2024
2 replies
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I received $7,800 in taxable scholarships last year and included them here:

However when I enter my $6500 roth contribution it says that it's an excessive contribution. My understanding is that the IRS allows this type of taxable scholarship to count towards Roth limits (after 2019).

I see other solutions to this problem apparently working on turbotax desktop, but on turbotax web I can't seem to solve the issue. To be clear, I marked that I was a full-time graduate student.

Thanks for the help!
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TurboTax PLUS Online

elLaszloAuthor

This is the error I see:

Hal_Al

Employee

There is new screen in the IRA contributions section, titled "How much of the taxable scholarship was for graduate or post doctoral studies?" Be sure you filled in an amount there (usually all of the taxable scholarship).

elLaszloAuthor

Thanks @Hal_Al ! I've seen others mention this but it never shows up for me on the IRA flow. Is it possible it's only available on the desktop version?