cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

How do I keep the 401K rollover amount from showing as income, if I rolled into a qualified IRA?

I retired in 2018 and rolled my 401K into a qualified IRA.  In Turbo Tax how do I keep the 401K rollover amount from showing as income, if I rolled into a qualified IRA?

1 Best answer

Accepted Solutions
Employee Tax Expert

How do I keep the 401K rollover amount from showing as income, if I rolled into a qualified IRA?

If you enter your 1099-R for the rollover properly in TurboTax, it will not be taxed.

In the income summary, TurboTax will list the rollover in Gross income, but it will not be taxed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
Employee Tax Expert

How do I keep the 401K rollover amount from showing as income, if I rolled into a qualified IRA?

If you enter your 1099-R for the rollover properly in TurboTax, it will not be taxed.

In the income summary, TurboTax will list the rollover in Gross income, but it will not be taxed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post