sigu828
Returning Member

Retirement tax questions

Thanks a lot.  DianeC958

To summarize:

1. I will amend my 2018 return by filing the 8606 with $5500 non-deductible IRA contribution make in March 2019. this shouldn't change the tax amount for 2018.

So it's OK for me to do this in 2020 and it's not too late, right?

2. I will report in my 2019 return a "total basis as of December 31, 2018" to be $5500, which will offset the total distribution of $11500 in my 1099-R form for 2019. do I need to be concerned that the "total basis as of December 31, 2018" since the $5500 was not deposited into the IRA until march 2019?