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The Form 1099-R is reporting a distribution from you retirement plan and all such distributions are income under the tax code. TurboTax's summary shows both taxable and nontaxable income.
I assume that the IRA/SEP/SIMPLE box on this Form 1099-R is not marked. You can verify that this income is being reported as nontaxable by seeing that the $5,xxx is included on Form 1040 line 16a or Form 1040A line 12a, excluded from line 16b or 12b, and the word ROLLOVER is next to this line.
The Form 1099-R is reporting a distribution from you retirement plan and all such distributions are income under the tax code. TurboTax's summary shows both taxable and nontaxable income.
I assume that the IRA/SEP/SIMPLE box on this Form 1099-R is not marked. You can verify that this income is being reported as nontaxable by seeing that the $5,xxx is included on Form 1040 line 16a or Form 1040A line 12a, excluded from line 16b or 12b, and the word ROLLOVER is next to this line.
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