@momrose wrote:
, are you telling me that the $50 penalty likely wouldn't apply because there were no missing nondeductible contributions to report?
You can file the 8606 if you want but it probably is not necessary.
No, there is no $50 penalty for parts II & III. The penalty only applies for failing to file part I.
**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.**
