I am taking an RMD this year, so my IRA Basis is important for the first time.
Looking back at my tax returns and Fidelity statements for the past 20 years, I see that the reported IRA basis is incorrect in most years. I am not sure how this happened. The Fidelity statements are accurate, but the Turbotax-generated 8606 statements are wrong.
I can't file amended returns for 20 years. Should I just file my 2024 with the correct Basis and keep my fingers crossed? What's the best strategy for avoiding a huge amount of work and/or triggering an audit flag? Thanks.
