@fanfare wrote:
"However, you should probably file all those missing form 8606s. "
I disagree.
I'm curious about your reasoning for this, especially since,
1. the form is required
2. there is a $50 penalty for not filing the form
3. If audited, the IRS does not have to treat the conversion as non-taxable unless the taxpayer can prove that the original contributions were non-deductible (using form 8606).
4. The statute of limitations never starts to run if you don't file.
5. The IRS says to keep copies of form 8606 "until all distributions are completed."
6. Intuit says to file the form.
https://accountants.intuit.com/taxprocenter/tax-law-and-news/nondeductible-ira-contributions-and-com...
