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Retirement tax questions
It is way too late to amend to take the deductions however you can amend to add the required forms 8606 (one for each tax year starting with the oldest year) to report the non deductible contribution that was made. Failure to file the needed 8606 forms will result in your paying taxes on the same money twice. Be prepared to defend yourself when the IRS penalty letter shows up for the late filed 8606 forms so you can ask for a waiver.
‎July 30, 2023
9:12 AM