I had a Pension that was rolled over in 2022 into a traditional IRA. I did not receive any distribution - it was rolled over in total. Why is this amount income?

kimber_graham · ‎April 16, 2023

And how do I get this amount to not be income?

PattiF · ‎April 17, 2023

The 1099-R for a rollover should have Code G in Box 7. That would identify this as nontaxable. Check the 1099-R and see if it was entered correctly in your return.

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dmertz · ‎April 17, 2023

Under the tax code, this transaction constitutes you receiving a distribution of income that is made nontaxable by the rollover. Just make sure that it is being included on Form 1040 line 5s and is not being included on line 5b.

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I had a Pension that was rolled over in 2022 into a traditional IRA. I did not receive any distribution - it was rolled over in total. Why is this amount income?