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trithibs
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I had a 401k with a company I separated from, so my 401k was rolled over to a traditional IRA. My return is showing that is taxable. Is that correct?

 
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I had a 401k with a company I separated from, so my 401k was rolled over to a traditional IRA. My return is showing that is taxable. Is that correct?

No it shouldn't be taxable.    It should be on 1040 line 5a and $0 on line 5b with the word Rollover by it.   What code is in box 7 on the 1099R?  When you entered it  you need to pick you rolled it over. 

 

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 form and make sure it's right. Check lines 4b & 5b for any taxable amounts. For a rollover line b should be zero or just the taxable amount and the word Rollover by it.


Before filing you can preview the 1040 or print the whole return
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

 

 

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