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Chi-Ngo
New Member

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019

I made a $12,000 contribution ($6,000 for 2019 and $6,000 for 2020) in January 2020.  I recorded the $6,000 contribution in my 2020 tax return in Form 8606, but I haven't gone back to report the $6,000 contribution for 2019.  I've read some posts in the Community about not needing to amend my 2019 tax return and being able to file a stand-alone Form 8606 for 2019.  The post says to search for "8606, nondeductible ira contributions" once you're in the prior year return and jump to filing the form, but I don't see that option / have the ability to do that in TurboTax Online.

6 Replies
VolvoGirl
Level 15

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019

You can't make a 2019 contribution in Jan. 2021.

Chi-Ngo
New Member

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019

Sorry; that was a typo.  I made the contributions in January 2020, not 2021.

macuser_22
Level 15

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019


@Chi-Ngo wrote:
I made a $12,000 contribution ($6,000 for 2019 and $6,000 for 2020) in January 2021.  I recorded the $6,000 contribution in my 2020 tax return in Form 8606, but I haven't gone back to report the $6,000 contribution for 2019.  I've read some posts in the Community about not needing to amend my 2019 tax return and being able to file a stand-alone Form 8606 for 2019.  The post says to search for "8606, nondeductible ira contributions" once you're in the prior year return and jump to filing the form, but I don't see that option / have the ability to do that in TurboTax Online.

When did you make the 2019 contribution?   It could be no later than the 2019 filing date which was July 15, 2020.   If after then then it was an excess contribution and must be removed but I know of no financial institution that would allow a 2019 contribution after the due date.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Chi-Ngo
New Member

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019

That was a typo I've corrected.  I made the $12k contribution ($6k for 2019, $6k for 2020) in January 2020.

macuser_22
Level 15

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019


@Chi-Ngo wrote:

That was a typo I've corrected.  I made the $12k contribution ($6k for 2019, $6k for 2020) in January 2020.


There is no version of TurboTax that can produce a stand alone 8606.     Assuming that the contribution was not reported on your 2019 tax return at all then the only way to file a standalone 2019 8606 is to download a blank 2019 8606 from the IRS and manually fill it out and mail it to the IRA 1040 mailing address,   If you did report it as a deductible 2019 contribution and want to make it non-deductible now, then an amended 2019 return is required.

 

https://www.irs.gov/pub/irs-prior/f8606--2019.pdf

https://www.irs.gov/pub/irs-prior/i8606--2019.pdf

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
macuser_22
Level 15

How can I file a stand-alone Form 8606 for a prior year (2019)? I made 2019

Note though:  I used to recommend this method all the time, but recently there appears to be some IRS agents that insist on amended returns even when absolutely nothing on the return changes and they will send the standalone 8606 back and ask for an amended return.     (Depends on what agent reviews it.)

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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