ThomasM125
Expert Alumni

Get your taxes done using TurboTax

It is not likely the IRS would deny a basis deduction for non-deductible IRA contributions simply because you didn't report it on a form 8606. It is as much for your benefit in keeping track of your basis as it is for the IRS's record keeping. The important thing is that you have documentation proving the amount of your non-deductible contributions. You can get copies of tax returns going back seven years from the IRS, but one would think it would be sufficient to just amend the last three years if you are concerned about it.

 

 

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