I have no money in a traditional IRA, all of my IRA money is in a ROTH IRA. Because my income level is too high to make IRA contributions, I started doing a backdoor Roth in 2019.
I may have not have input something right on my 2019 return, as my 2019 Form 8606 shows a basis of $6000, which is the amount of the non-deductible contribution I made to a traditional IRA I opened that year, then converted to the Roth. The way I understand it now, the basis should have been zero, correct?
Since TurboTax was tracking the basis, that basis amount carried over to my 2020 return. Being new to doing the Roth IRA conversion, I didn't realize at the time that the basis on the 2020 tax year's 8606 may have been wrong as well.
Since the contributions were non-deductible, and I haven't taken any distributions from the IRA, I don't think it will change my taxable income for 2019 and 2020, but do I have to go back and file amended returns for 2019 and 2020. before filing my 2021 returns, or can I just change the basis amount on my 2021 return?
