spentab61
New Member

Direct rollover showing dollar amount in line 5b of form 1040

Direct rollover from 401K to Regular IRA.  Non taxable event, yet turbo tax software placed $27,680 value in line 5b of form 1040 to be calculated as income on my taxes.  The value on line 5b should be zero as reported on my 1099R.  Don't know why the turbo tax software would place that value into the 5b line.  The form does show rollover next to the 5b line.  all documentation from IRS says this was a direct rollover and non taxable.  Both my financial institutions agree this is a software issue with turbo tax