Why is a rollover considered income

Forum|Forum|6 years ago
June 1, 2019
1 reply
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it was rolled over to another qualified account. I did not receive any cash form this

TurboTax Self Employed Online

Best answer by Anita01

It is considered income, it's just not taxable income. If you entered that you rolled the money over, it won't be taxed. It will, however, still appear on the income summary because that shows the income you entered so you don't enter it again.

Anita01Answer

Dl Gallardo

Hello,

I don't understand what you are saying in your last sentence, "It will, however, still appear on the income summary because that shows the income you entered so you don't enter it again." What does that last part of this sentence mean? Why would I enter the rollover amount more than once (as implied by the last part of your sentence) when I already entered it in the appropriate 1099-R section?

DianeW777

First, this is a very old thread you have attached your question to. You enter a rollover only once if you received a 1099-R and rolled it all over within the required 60 days.

@Dl Gallardo

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