The rollover is included in your total income, but it is not considered taxable income. All you have to do is enter form 1099-R (which you should have received) exactly as it appears. If it shows code G in box 7 of the form, the rollover is reported automatically. Otherwise, once you answer follow-up questions after the basic information is entered, the rollover will be applied. Again, it is included in your tax return, but it is not taxable.
Please look at your Form 1040 and you will be able to verify the nontaxable treatment. The rollover from your pension will be shown in Box 16a, Form 1040. If the entire amount is rolled over, line 16b remains blank and the rollover is not be included in taxable income. (Form 1040A line 12a and b).
If you have cd/download of TurboTax, just select Forms (upper right corner in Windows, upper left in Mac) and locate form 1040. If you have TurboTax online, use below steps to view form 1040:
- From My account drop
down, select Tools (you must be logged
into your tax return and be IN your tax return)
- Select View Tax Summary
- Select Preview my 1040
