When doing your taxes, you may notice that your rollover 401(k) to IRA appears on your income summary. This is because the rollover technically qualifies as income. However, it's important to note that a 401(k) rollover to IRA is not considered taxable income. As a result, the income numbers listed on your Adjustable Gross Income (AGI) tax return and taxable income will not be impacted by your 401(k) rollover.