Mistake on 8606 form from 2022

[franciscomarcoc]

Good afternoon,

I made a mistake while completing my form 8606 for the year 2022.

To amend it, can I just mail a new form to the IRS with a cover letter and a corrected 8606 form?

In my original form, I put that I had $2 of taxable amount but it should be $0 since I was doing a backdoor Roth IRA conversion for the first time. So there should be no taxable amount since I do not own any other traditional, SEP, or SIMPLE IRA for that year.

Francisco

[MarilynG1]

Yes, you can send a corrected Form 8606 to the IRS to report the correct basis for your Traditional IRA, with a cover letter as you suggested.

Here's more info and Instructions for Form 8606.

[franciscomarcoc]

Thank you Marilyn.

Do I have to complete a form 1040-X as well?

Francisco

[fanfare]

filers on this forum have reported that IRS sends back Form 8606 not attached to 1040-X

Use 1040-X to add or correct information on an already filed tax return.

The explanation is on Form 1040-X Part III, not some cover letter.

@franciscomarcoc