Hello,
I made a mistake while entering 1099-R on last year 2022 return. I classified it as Rollover where as it was a backdoor roth conversion.
Because of my income levels, it was a non-deductible contributions.
On form 1040, line 4b is 0. But form 8606 has wrong basis for IRA (line 14) and Part II of form ( for conversion) was blank.
When I figured it out, I tried amending my return. Upon correcting my mistake, i can see myy form 8606 shows correct numbers. Line 4b still 0.
Should I file 1040X and send new form 8606 ? Or should I do nothing as line 4b is 0 in both cases. Also, there is no change in tax liability.
Reason I ask, I am getting conflicting answers. Some people say since tax amount is not changing, I should not amend the return. And since I am not making same mistake in 2023 form 8606, my mistake will go away going forward.
Some said I should file 1040x and form 8606 just to keep everything clear.
Please advise.
Thanks!
