@JonBoy69 wrote:
Got it. Would the 8606 need to be filed with the 2020 return or next year with the 2021? I assume the 8606 would need to report the excess in one of the years.
There is no 8606 for a return of contribution. A "return of contribution" is as if the contribution never happened in the first place.
If you do not want to remove the contribution but just make it non deductible then an 8606 is filed for the tax year that the contribution was *for" - if it was a 2020 contribution then a 2020 8606 must be files as part of the 2020 tax return or amended 2020 tax return.
**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.**
