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I had a Pension that was rolled over in 2022 into a traditional IRA. I did not receive any distribution - it was rolled over in total. Why is this amount income?

And how do I get this amount to not be income?
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2 Replies
PattiF
Expert Alumni

I had a Pension that was rolled over in 2022 into a traditional IRA. I did not receive any distribution - it was rolled over in total. Why is this amount income?

The 1099-R for a rollover should have Code G in Box 7. That would identify this as nontaxable. Check the 1099-R and see if it was entered correctly in your return.

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dmertz
Level 15

I had a Pension that was rolled over in 2022 into a traditional IRA. I did not receive any distribution - it was rolled over in total. Why is this amount income?

Under the tax code, this transaction constitutes you receiving a distribution of income that is made nontaxable by the rollover.  Just make sure that it is being included on Form 1040 line 5s and is not being included on line 5b.

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