Do I need to file an amended return to correct Form 8606, line 16 amount?

[bondeen]

 I inadvertently indicated the gross amount of the IRA distribution for the conversion instead of the lesser net amount, which was less because I had taxes withheld from the distribution for paying taxes on the conversion.  I believe this does not impact any taxes due or any refund difference but, is it needed for other reasons?

[MelaineC]

I would prepare the amendment but then only send it in if you owe any money or are due any additional refund. There is no cost because you have to mail it in (if you submit it). If you are due an additional refund, you do not have to submit it unless you want to.  For more information as to when to amend and how to do so, please view TurboTax FAQ Do I need To Amend My Return.  At the end of the answer, there are also links, in blue, on how to do so in TurboTax.

It would be best to wait until you have received your refund from the tax return already submitted (if you are expecting one).  This will prevent delays in receiving your refund and you generally have 3 years to amend, from the day your taxes are due or 2 if you paid taxes due to owing taxes.  There usually are no penalties if you will receive a refund.

https://ttlc.intuit.com/replies/3288565

[bondeen]

Thank you.  I will do the amendment for 2016 TY but, since there will be no additional tax or refund, I will save it just for my records.  Will this then be incorporated into 2017 tax summaries/history sheets?