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Individual 401K direct Rollover "distribution"? Showing up as non Taxable pension Income
I had an individual 401K and individual Roth 401K
The investment company stopped supporting individual 401K's, , so I rolled it directly (same investment company) to a regular IRA and Roth IRA respectively.
No tax implications. Just directly rolled it over.
I got a 1099-R
In TurboTax, I noted I did a direct rollover (regular to regular and Roth to Roth), and there was no tax.
I'm perplexed, as in my Turbo Tax income summary lists it as a "non taxable pension", as part of my income. It isn't really income....just moved it directly in the same fund family.
Did I enter the information incorrectly? I expected it to be some sort of 'memo ' entry at worst. But not reported as income.
‎February 10, 2025
2:31 PM