The maximum amount you are allowed to contribute to a Roth IRA in a given year is either a certain dollar amount or your “taxable compensation”, whichever is lower. Now I am a PhD student who gets scholarships along with a stipend. (I also get a TA salary, but it’s clear how to take that into account.) My question is, do either the scholarships or the stipend (or both) count towards “taxable compensation”?
My scholarships and stipend are not part of a W-2 form, and this website says that scholarships which are not part of a W-2 form do not count towards taxable compensation:
But is that information correct?