I had a 1099-R direct rollover of a 401k to IRA. Taxable amount in 2a is $0. There is a $0.05 amount in section 5. Code distribution is G in section 7. However, on 1040 it is including all the amount as taxable.
Since all but maybe $0.05 went from 401k to IRA, it should not be reported as income
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Edit it, and go thru the follow-up questions again.
1) Re-confirm that a G is in box 7
2) Make sure you answer NO to any of the questions that ask if it went into a ROTH IRA, or any other ROTH account.
And to be clear, this is considered to be nontaxable income. When entered as SteamTrain describes, TurboTax will include it on Form 1040 line 4a but exclude it from line 4b with the ROLLOVER notation, making it nontaxable income.
Thanks, appreciate the quick response. That corrected things
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