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The rollover is
included in your total income, but it is not considered taxable
income. The IRS requires that all distributions must be reported on your tax return. However, that does not
mean that it is being taxed or that it affects your tax in any way. The screen
shows all income both taxable and non-taxable. The distribution will show on
your tax return with the word ROLLOVER next to it. You have to check the actual 1040
return. Line 16b is the taxable amount and it should say ROLLOVER by 16b (1040A line 12b). TurboTax will
include the entire distribution on Form 1040 line 16a or Form 1040A line 12a
but exclude the amount rolled over from the amount shown on
line 16b or 12b.
The rollover is
included in your total income, but it is not considered taxable
income. The IRS requires that all distributions must be reported on your tax return. However, that does not
mean that it is being taxed or that it affects your tax in any way. The screen
shows all income both taxable and non-taxable. The distribution will show on
your tax return with the word ROLLOVER next to it. You have to check the actual 1040
return. Line 16b is the taxable amount and it should say ROLLOVER by 16b (1040A line 12b). TurboTax will
include the entire distribution on Form 1040 line 16a or Form 1040A line 12a
but exclude the amount rolled over from the amount shown on
line 16b or 12b.
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