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Can I do a one time correction for non-deductible IRA contributions made from 1999 to 2011 and omitted from my last 4 years of tax filings or must I amend the 4 years?

For the last 4 years, I  did not list $34,500 in non-deductible IRA contributions that I made from 1999 to 2011.  I understand this will result in a reduction in my taxes due from my current IRA distributions.  How can I correct this?  Can I do a one time correction or must I amend the tax filing for every year this applies?
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2 Replies
DDollar
Expert Alumni

Can I do a one time correction for non-deductible IRA contributions made from 1999 to 2011 and omitted from my last 4 years of tax filings or must I amend the 4 years?

The form you would have included in your tax returns if you had reported your non-deductible IRA contributions is Form 8606 - Nondeductible IRAs.  This form can be filed along with a tax return, or as a stand alone form.  You can complete a Form 8606 for each year, and submit to the IRS all at once.  To access Form 8606, including the instructions and prior years' forms, go to: https://www.irs.gov/forms-pubs/about-form-8606

To access prior year forms, click on "All Form 8606 Revisions"




Can I do a one time correction for non-deductible IRA contributions made from 1999 to 2011 and omitted from my last 4 years of tax filings or must I amend the 4 years?

what do you mean, "for the last four years"?
If your last non-deductible contribution was for 2011 then the 2011 8606 should show 34,500.
If that is the case you do not have to do anything further.

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