I rolled my 401K over into my TRAD IRA in 2024. TT is showing it as income. How do I fix this? [Box 7 code is G]

[casatilton]

As described. Never had this issue before with TT.

[SusanY1]

It should show as "income" but then be removed from taxable income.  IYou can check to be sure this is showing as such by previewing the 1040 and looking at lines 5a and 5b.  

When reporting correctly, you will see the total of the distribution on like 5a and 0 on 5b with the word "ROLLOVER" typed beside the line.  

To preview the 1040 in TurboTax desktop click on the Forms icon in the upper right of the program. To see it in TurboTax online, follow these steps:

From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

1. Select Tax Tools 
   
2. On the drop-down select Tools 
3. On the pop-up menu titled “Tools Center”, select View Tax Summary 
4. On the left sidebar, select Preview my 1040