Here’s a related question: from what I’ve read, if you fail to file a form 8606 for previous year(s) you can ask the IRS to approve the form(s) retroactively. They will charge a fee of $50 per year missed, which I really have no problem paying. I was told that unless and until the IRS approves the retroactive 8606, one should not claim any after-tax contributions. I have contributed a substantial amount in after-tax money to an IRA over the years. No 8606s were filed. Recently I have moved funds from my IRA to my ROTH IRA. I should not have to pay income taxes on 100% of the amount I moved from the IRA to the ROTH IRA. But I don’t want to claim this deduction with a written approval of the form 8606s. IRA simply does not respond and I don’t know what to do. Any advice? Thanks.
