Hello,
I accidentally reported a $1000 non deductible contribution to an IRA using form 8606 whereas the correct amount is $3000. How can I correct it? Since it is a nondeductible contribution it did not impact the AGI and the tax refund. Should I file a 1040X form and add the corrected 8606 form? Or should I just send form 8606 without form 1040X?
If I need to file form 1040X should I also file line 1 to 15 (none of the amounts changed anyway)? My turbotax auto generated 1040X only filed line 16 ($0), 18 and 19.
Thank you for your help!
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You do not send a 1040X unless you have another reason to amend. The 8606 is a standalone form that can be mailed by itself.
You can download a blank form here:
https://www.irs.gov/pub/irs-pdf/f8606.pdf
https://www.irs.gov/pub/irs-pdf/i8606.pdf
Thank you so much.
I will fill an amended form 8606 and explain in a cover letter this is because in the original 8606 form I filled a1000 non deductible contribution instead of 3000.
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