Retirement tax questions

Yes, yiu are required to file a 2015 8606 reporting the non-deductible contribution.   There is a $50 penalty for a missed 8606 but don't pay it unless the IRS sends a bill.

 

You can get blank 8606 forms for 2015 here:

 

https://www.irs.gov/pub/irs-prior/f8606--2015.pdf

https://www.irs.gov/pub/irs-prior/i8606--2015.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.**