Filed form 8606 in error
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Maisy
Level 2

Filed form 8606 in error

I have just e-filed our return for 2019.  I didn't make any nondeductible contribution to any IRA in 2019.  I was checking if I'm eligible in making IRA contribution and didn't realized that the form was created until I saw it when printing the tax forms for our records after submitting the return for e-filing.

Please help to advise on how to correct this.  Should I just send a letter to the IRS to explain my mistake?When should be a good time to send the letter if I have just e-filed my tax.

Thank you for your help.

2 Replies
CatinaT1
Employee Tax Expert

Filed form 8606 in error

Are there any current year contributions listed on the form?  This would be listed on line 1.  If there is only an amount on line 14, this is just your running balance of your total IRA contributions from prior years.

 

If you have amounts listed on line 1 and took an adjustment to income for contributions, you will need to amend your return.  See this TurboTax FAQ for help with amending.

 

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Maisy
Level 2

Filed form 8606 in error

Hi Catina,

 

Thank you for your quick response and I'm sorry for my delay to thank you.

Yes, I have $1,000 on line 1, 3 & 14.  My running balance on my total IRA from prior years should have different amount, not $1000.

We have schedule C so there is only the SE tax adjustment amount on line 8a on our 1040-SR.

Since I'm not qualified to make contribution to IRA, I wouldn't be qualified for any adjustment to our income.

Do I still need to amend our return or would a letter to explain the error be suffice since there is no change to our 1040 figures?

Thank you for your help.

 

Kieu

 

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