Facts:
- My wife and I each made our first non-deductible IRA contribution in 2010 and reported correctly in Form 8606 for that year.
- We did not make any non-deductible IRA contributions from 2011 through 2019.
- In 2011, I submitted a blank Form 8606 (and thus, zero basis for non-deductible IRA contributions), but no Form 8606 for my wife.
- No Form 8606s were submitted for either me or my wife for 2012 to 2019.
- In 2020, both of us made a second non-deductible IRA contribution and filed Form 8606, but forgot to include the contribution made in 2010 in the basis.
Question: Do we need to submit an amendment for every single year since 2011 or can we simply show the corrected prior year tax basis in our 2021 tax return?
Thank you.
