Please check Form 1040 line 4b (for IRA) or 5b (for pension and annuities) for the taxable amount. The TurboTax summary shows gross income, not taxable income.
Please make sure you answer all follow-up questions after you enter your 1099-R to indicate it was a rollover if the code in box 7 don't indicate it was a direct rollover:
- Login to your TurboTax Account
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R
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