If it is a direct rollover it is not taxable. According to the IRS, a rollover occurs when you withdraw cash or other assets from one eligible retirement plan and contribute all or part of it, within 60 days, to another eligible retirement plan. However, you must include in income in the year of the distribution the taxable amount of a distribution that you do not roll over. The taxable amount of the distribution will be any portion of the distribution that was not previously subject to federal income taxes. (For example, any post-tax contribution will be considered tax-free distributions).
This IRS link provides
additional information about an IRA Rollover
You should receive Form 1099-R from the distribution entity that will include information about the amount of the distribution and coding of the distribution in box 7.
To report this IRA Rollover in TurboTax, log into your tax return and type "IRA Rollover" in the search bar then select "jump to IRA rollover". TurboTax will guide you in entering this
information. (See attached screenshot)
Note: You do not need to enter the IRA anywhere else. Entering it as an additional contribution will cause it to appear that you over contributed, and a penalty will apply.
