Re: I neglected to file my non deductible IRA cont...
Level 15

Retirement tax questions

@luvlondon wrote:


I failed to file 8606 for non-deductible IRA contributions for 1985, 1995 and 1996.  Where would I get Form 8606 for 1985?   


What could I use as a reasonable cause explanation to avoid the non-filing fee of $50?  I was preparing my taxes manually for these years and did not realize that I was required to file Form 8606.   I wonder what has been the experience of other people in this chat.   Must I include the $50 fee upon filing or do I wait to be billed by IRS?


thanks much




Do NOT send the $50 penalty.  If the IRS imposes it then they will bill you.   The explanation can be anything that is reasonable.


Past years 8606 forms from 1987 to present can be found here:


I do not believe that there is any 1985 8606 form because the Tax Reform Act of 1986 created the 8606 form and was effective starting in 1987 so it did not exist prior to 1987. Prior to 1987 I do not believe that it was possible to make a non-deductible Traditional IRA contribution.



**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.**
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