If a retirement account is rolled over into a traditional IRA, without taking any distribution, should it be counted as income?

molly6163 · ‎June 6, 2019

MinhT · ‎June 6, 2019

No, a rollover of a retirement account into a Traditional IRA is not taxable.

In the income summary of TurboTax, you will see the amount of the rollover listed as Gross Income, but not as taxable income. On your form 1040, the amount of the rollover is listed on line 4a, and the amount taxable (which should be 0) is listed on line 4b.

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View solution in original post

MinhT · ‎June 6, 2019

No, a rollover of a retirement account into a Traditional IRA is not taxable.

In the income summary of TurboTax, you will see the amount of the rollover listed as Gross Income, but not as taxable income. On your form 1040, the amount of the rollover is listed on line 4a, and the amount taxable (which should be 0) is listed on line 4b.

**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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If a retirement account is rolled over into a traditional IRA, without taking any distribution, should it be counted as income?