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J
jeahas52
June 6, 2019
Question

401k rollover to IRA , listed as income?

  • June 6, 2019
  • 1 reply
  • 0 views
No text available

1 reply

K
KenH1
Employee
June 6, 2019

A rollover will appear in the tax summary, but it shouldn't appear in taxable income.

If the distribution code in box 7 of your 1099-R was "G" then it was a direct rollover and not included in taxable income.

If it was an indirect rollover, then take these additional steps in TurboTax after entering your 1099-R:

At the What Did You Do with The Money screen indicate that I moved the money to an IRA or another retirement account and then select rolled over. 

There should be no effect on your taxable income.

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