It depends. Depending on how and when it got from the 401(k) to the IRA it may qualify as a nontaxable rollover which is not deductible as an IRA contribution. If you didn't meet the requirements for a rollover, the amount distributed from the 401(k) is taxable, and the amount you put in the traditional IRA will result in a deduction for the IRA contribution up to the maximum allowable contribution for the year, but any amount over that may be treated as an excess contribution taxed at 6% per year until it is withdrawn. If you find yourself in that last situation, you should refer to IRS Publication 590A at this link for more information about what to do.
So, here's how it works:
If it went directly from the 401(k) to the traditional IRA, without you "touching" the money, it is a rollover and you'll get a 1099-R with a "rollover" code that will treat it as nontaxable.
If you got a check for the money and deposited it to the traditional IRA, any amount you redeposit within 60 days will be treated as a rollover and not taxed.
Any amount you did not re-deposit within 60 days (including any amount withheld by the 401(k) for taxes) will be taxed, and you are only allowed to contribute to a traditional IRA your maximum contribution for the year without harsh tax consequences until the money is removed from the traditional IRA.
See the IRS website at this page for more information.
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