Taxable Amount   Definition Shows the part of the distribution that is generally the Taxable Amount. However, if there is no entry in this column, we may not have all the facts needed to calculate the taxable amount. For a direct rollover, zero should be entered on Form 1040 or 1040A in the section labeled Income on the line labeled Taxable amount. If this is a total distribution from a qualified plan (other than an IRA or tax sheltered annuity) and you were born before January 2, 1936 (or you are the beneficiary of someone who was born before January 2, 1936), you may be eligible for the 10-year tax option. See the instructions for Form 4972, Tax on Lump Sum Distribution, for more information.