Retirement tax questions

There are 2 ways to do it ... 

One it to put it on a Sch C (especially if the amount in box 7 is over $400) as income then make one expense for "income reported on Business return" .  

Or ( and this one could get you an IRS letter to explain your action ) put it on line 21 of the form 1040 by making 2 entries ... one positive then one negative.