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Retirement tax questions
What is the code in box 7 of the Form 1099-R provided by the payer?
Is the IRA/SEP/SIMPLE box marked?
Does box 2a show the same amount as is in box 1?
The traditional IRA custodian is required to marking box 2b Taxable amount not determined for any regular traditional IRA distribution because the custodian has no way to know how much basis you might have in nondeductible traditional IRA contributions that would reduce the taxable amount. It's your responsibility to properly determine the taxable amount on your tax return, either the full amount being taxable or, if your have nondeductible traditional IRA contributions, calculating the taxable amount on Form 8606.
For a regular distribution from a traditional IRA, box 2a of the Form 1099-R must also show the same amount as is in box 1 and have the IRA/SEP/SIMPLE box marked.
If you indicate that the entire distribution was rolled over, TurboTax will exclude the entire amount from your AGI.
If box 2a does not show the same amount as is in box 1, perhaps the account is not an IRA (which would be indicated by the IRA/SEP/SIMPLE box not being marked.