Amend returns for missed Roth conversion

[vibinsv09]

I missed to report conversion of my traditional IRA balance to Roth IRA on my 2020 returns. Am I supposed to file an amended return for this? Adding this information does not affect my taxes but affects the basis of my Roth IRA.

[MaryK4]

Because Roth IRA distributions are not taxed on contributions or earnings, you do not have to amend your 2020 return just to report you basis.  I do caution you to make sure you keep the records because it may become an issue later since it was not reported.  

[vibinsv09]

Thank you.

 Is there a way to update the gap in basis through my 2022 returns in turbo  tax?

[fanfare]

If you did not report, then you did not file 2020 Form 8606 for the conversion.

Eventually, IRS is going to want to know "why not ?"

@vibinsv09