Missed filing form 8606 for 2022 to 2025

[NelehCr0z]

I did NOT know that I am required to file form 8606 for each year that I did 72T distributions. I just found out yesterday, that a non-deductible contribution to a Traditional IRA that I did in 2008 has major impact on the 72T distributions that I started and got in 2022 to 2025, and this year 2026 (though this is not an issue since this income is yet to be filed next year)

Please advise as to what should I do to correct my 2022 to 2025 tax returns. Do I need to file amended returns for each year 2022 to 2025?  If amended returns are needed, can I go back to my Turbo Tax software in 2022 to 2025 and do the corrections using the turbo tax? Or can I just figure out the basis for each year and just file the related forms 8606 for each year missed?

I would greatly need your expert advise on this. Thank you!

[Vanessa A]

You would amend your returns for 2022 through 2025.  This would possibly result in a refund since you would not be taxed on the basis of the amount that was non-deductible.  So it would lower your tax liability.

So for 2022, it is too late to claim a refund, because it is over 3 years past the deadline (assuming you filed on time) as you would have had to amend by April 15, 2026 to claim a refund for the 2022 tax year.  

You will still need to amend your 2022 return and apply the non-deductible contribution for 2022, then whatever is remaining will be carried forward and applied to 2023 and forward.  You can receive the refund for 2023, 2024 and 2025.  

However, before doing anything to amend, you should double check to be sure that form 8606 was not filled out each year when you filed your return.