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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. Taxable amount should be 0 on line 5b with the word ROLLOVER by it. Was any withholding taken out? What code is in box 7 on the 1099R?
Box 7 has "G". It was a direct rollover from my 401(k) into a Traditional IRA, but it was done automatically by my old employer, so I didn't receive any payments.
OK, so what is on 1040 line 5a and 5b? Code G is a direct transfer and not taxable. Or where is it showing up?
Just enter the 1099-R exactly as you see, with the G. Direct Rollovers are not taxable to you. You should see the full amount on Line 4a but the taxable amount $0, should be on 5b.
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