ToddL
New Member

Retirement tax questions

Technically, any distribution from an IRA is "Income"; whether or not it is included as taxable income on your return will depend on the nature of the distribution. 

Your answers to the interview questions will determine if and how the distribution is taxed.

The initial rollover (qualified retirement plan/IRA to IRA) will show as "Income"in the program and on your tax return (Line 15a of Form 1040) , but it will not be included in your "taxable income" (Line 15b of Form 1040).

The withdrawal (distribution) from the destination IRA will also show as "Income"in the program and on your tax return (Line 15a of Form 1040). If you used the funds from that distribution,  it will be included in your "taxable income" (Line 15b of Form 1040).

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