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401K roll over distorts income
Rolled over my traditional 401k to my new employer's plan. Followed all directions, all's well; I can see that I am not be taxed on the distribution.
However, my return now shows a grossly distorted income due to the roll over showing as income. This may be of no technical consequence.... but it sort of bothers me.
When entering the roll over distribution info and amounts I was expecting an opportunity to show off-setting entries; that is, xxx-amount distribution from the previous IRA and the same xxx-amount shown as being rolled-over into the new IRA, with one entry washing out the other, so to speak
Did I miss a step?
Thanks
RTLL
‎February 15, 2020
1:12 PM