I rolled 100% of a 401K to a traditional IRA. Why is only part of it deductible?

[SteamTrain]

[[ initial response Edited out}]]

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OR wait!!!...are you talking about deduction for an IRA contribution?

The rollover is NOT an IRA contribution......don't enter it as an IRA contribution...the rollover done and enter as a part of the 1099-R...is simply not taxed...you don't get to enter it again as an IRA contribution.

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Yeah @VolvoGirl   I just caught that's what they probably meant.

[VolvoGirl]

Deductible?  None of it is deductible.  It is a rollover.  Do not enter it in Deductions as a new IRA contribution.  Only enter the 1099R.  

[annette-sauerbry]

Thanks for your help.  I received a form from financial institution regarding the deposit into the IRA. Does that get entered anywhere?

[dmertz]

The Form 5498 does not get entered anywhere in TurboTax.