Yes. The rollover retirement statement should not generate a tax. You may check the1099-R form if the Distribution code on line 7 of the form is G for rollover. If not, you may contact the pension plan provider to correct the code, if it was a rollover. A Rollover allows you to move funds from your retirement account or employer sponsored retirement into an IRA, either by trustee to trustee transfer, direct rollover, or a 60-day rollover. When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred.
