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My lump sum pension rollover into traditional IRA

I retired last June and after retiring I had my small pension lump sum balance directly rolled over into my IRA.

So now I have a 1099-R which confirms my lump sum pension balance was rolled over directly into my IRA. The 1099 box 7 is correctly marked "G".  But when I complete the turbotax income related "interview", answering the required questions, the lump sum pension balance is included in my "Total Income Summary" presented at the end of the 9 income related sections of the interview.  It's not income, it's a direct rollover and non-taxable. I went back to the income section to confirm my answers and input. 

Is this normal or a software bug?  Do I need to make an edit manually by pulling up the associated IRS form turbotax will be filling out for me?

Thanks in advance for any guidance.

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Accepted Solutions

My lump sum pension rollover into traditional IRA

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 5b for any taxable amount.  For a rollover line 5b should be zero 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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1 Reply

My lump sum pension rollover into traditional IRA

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 5b for any taxable amount.  For a rollover line 5b should be zero 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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