If the code in box 7 did not already indicate that it was a rollover then you can answer questions in TurboTax that it was a rollover.
- After you entered the information from your 1099-R click "continue"
- Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
- Then choose “I rolled over all of this money”
You can verify on Form 1040 line 4b (taxable amount) that the amount was excluded from taxable income.
Please be aware that TurboTax shows the whole amount in the Gross Income on the Income summary but you will need to look at Form 1040 line 4b to see what was actual taxable.
