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Stockmoose16
Returning Member

Amend 8606 - filing instructions

I'm working on my 2020 taxes and realized that I made a mistake in my documentation of a backdoor roth on my 2019 Form 8606.  I've corrected it - and there's no change to the refund/amount due - but I'm not clear on what I have to file.

 

Can I just send in Form 8606 to the IRS, or do I need to do a 1040x?

 

I also filed state taxes in CA and LA. Do I need to send them Form 8606, too?

17 Replies
MaryM428
Level 10

Amend 8606 - filing instructions

You could either just send the Form 8606 to the IRS or you can wait until about mid-March and file an amend.  Filing an amend is probably easier and then your 1040X will have the correct information for your records.  I would advise filing the amend. 

Stockmoose16
Returning Member

Amend 8606 - filing instructions

I'm unclear. What does mid March have to do with sending it back in? Can't I send it back whenever? 

MaryM428
Level 10

Amend 8606 - filing instructions

We expect the IRS to begin accepting amendments in mid-March.  They have still not announced the date.

 

You have three years to file an amendment after the date you filed the original return or 2 years after you paid any tax due on the return.

 

Stockmoose16
Returning Member

Amend 8606 - filing instructions

Ok. Can you go into more detail as to why it would be better to file a completely amended return as opposed to just Form 8606?

 

Also, what about my CA and Louisiana state taxes. Do I need to amend those to reflect the backdoor roth, or is that only a Federal issue? 

ReneeM7122
Level 8

Amend 8606 - filing instructions

You do not have to amend a tax return if you are missing form 8606.  As long as there is no change to any tax due, 

according to the IRS, What taxpayers should know about amending a tax return:

  • Taxpayers should not amend a tax return to correct math errors; the IRS will make the math corrections for the taxpayers.
  • Taxpayers should also not amend if they forgot to include a required form or schedule. The IRS will mail a request about the missing item.

 

 

Stockmoose16
Returning Member

Amend 8606 - filing instructions


@ReneeM7122 wrote:

You do not have to amend a tax return if you are missing form 8606.  As long as there is no change to any tax due, 

according to the IRS, What taxpayers should know about amending a tax return:

  • Taxpayers should not amend a tax return to correct math errors; the IRS will make the math corrections for the taxpayers.
  • Taxpayers should also not amend if they forgot to include a required form or schedule. The IRS will mail a request about the missing item.

 

 


Ok, but what about my California taxes. Do I need to send them anything to reflect the change to form 8606?

MaryM428
Level 10

Amend 8606 - filing instructions

You will not need to amend the California taxes for the Form 8606.  You will keep a copy of the 8606 form with your other 2020 tax records in case there is ever a question about it.

 

Use Form 8606 to report: Nondeductible contributions you made to traditional IRAs. Distributions from traditional, SEP, or SIMPLE IRAs, if you have ever made nondeductible contributions to traditional IRAs. Conversions from traditional, SEP, or SIMPLE IRAs to Roth IRAs. Distributions from Roth IRAs.

jjab
Level 2

Amend 8606 - filing instructions

@MaryM428  I am in the similar situation. 

I just mailed the 1040X for IRS ( Federal Tax). Should I still need to file for State tax? I don't think there is Form 8606 in state tax and based on your previous answer, I don't need to. I just want to verify. Thanks.

CatinaT1
Expert Alumni

Amend 8606 - filing instructions

Just federal.

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jjab
Level 2

Amend 8606 - filing instructions

Thanks!

ganymededl
New Member

Amend 8606 - filing instructions

Hi, it appears from Mary & Renee's comment that if you had already filed 2020 tax return but only missing the non-taxable contribution to TIRA that filling out the 8606 is sufficient (i.e. no need to do 1040x). However, the language from What taxpayers should know about amending a tax return | Internal Revenue Service (irs.gov) also says "The IRS will mail a request about the missing item." I filed my tax return in March, made contribution in April 2021, and yet I have not received anything from the IRS. Should I proactively fill out the 8606 to avoid the $50 penalty or wait ? p.12 of Instructions for Form 1040-X (Rev. January 2020) (irs.gov) says to do so if changing TIRA so now I'm not so sure.... TIA, 

Critter-3
Level 15

Amend 8606 - filing instructions

Do not wait for an IRS notice for a missing 8606 since it may never come ... simply fill in the 8606, sign it and mail it as it says to do in the 8606 instructions.  Since it is considered a "stand alone" form  it doesn't need to be attached to a 1040.  

 

https://www.irs.gov/pub/irs-pdf/i8606.pdf

ganymededl
New Member

Amend 8606 - filing instructions

Thanks much for the quick reply, Critter-3.

 

btw, since I filed the 1040 in March, made the TIRA in April & am now filing the 8606, how do I know if the $50 penalty applies? the amendment statement says you have up to 3 years (https://ttlc.intuit.com/community/after-you-file/discussion/amend-8606-filing-instructions/00/195232...)  but this is not an amendment. How does one know ? 

macuser_22
Level 15

Amend 8606 - filing instructions


@ganymededl wrote:

Thanks much for the quick reply, Critter-3.

 

btw, since I filed the 1040 in March, made the TIRA in April & am now filing the 8606, how do I know if the $50 penalty applies? the amendment statement says you have up to 3 years (https://ttlc.intuit.com/community/after-you-file/discussion/amend-8606-filing-instructions/00/195232...)  but this is not an amendment. How does one know ? 


You are NOT amending anything if you are simply reporting a non-deductible contribution made in April after you filed..    You are simply filing an ORIGINAL 8606 for the contribution made after you filed. 

 

Simply attach a statement to the mailed 8606 form saying that you are reporting  non-deductible contribution made by the due date of the tax return but after you filed so the 8606 was not included in your original tax return.         There will not be any penalty.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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