Level 15

Retirement tax questions

@AG2020 wrote:


I read through the conversation but not clear for my situation so hoping somebody can help!


Made non-deductible contribution to traditional IRA for tax year 2011. Since then no distribution , no additional non-deductible contributions and no Roth conversions. At the time CPA forgot to file 8606. I do my own taxes now via Turbotax.  What do I need to do now? Is it necessary to file 8606 for 2011?



Yes.   Without a 8606 you will loose the ability to be able to use the 2011 non -deductible contribution to help offset tax liability.


You can download the 2011 8606 here:


You  can attach a request to waive the $50 penalty for failing to file the 8606 when due.


**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.**