AmyC
Expert Alumni

Retirement tax questions

The 8606 is what must be correct and filed with the IRS. For the 1040x, you only need to enter the amount of income change. For example: In 2020, $25,000 was taxable and the rest was basis. Then the amended would show only $25,000 subtracted from income - the actual income amount you were taxed on due to your basis.

 

Use the desktop software. The 1040x is a very straightforward form. I would keep it simple and override both the income and the 8606 in Forms mode for each year. You will want to file the corrected 8606 for each year. 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"