You are correct - rollover is included in your total income but will show as nontaxable income on your tax return.
Please report your 1099-R into TurboTax (exactly as it appears) and the software will place the income as nontaxable due to a rollover. Generally code G (box 7) on the form will
indicate nontaxable transaction. If you have a different code, please enter it
but be sure to answer follow up questions. You'll be able to indicate that you rolled over the money, which will trigger a nontaxable treatment.
- Federal Taxes
- Wages and Income
- Scroll down to Retirement
Plans and Social Security
- Select IRA, 401(k), Pension Plans (1099-R)
