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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?

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Accepted Solutions
MinhT
Expert Alumni

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.

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1 Reply
MinhT
Expert Alumni

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"
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