@Dundee669 wrote:
. You can do it in any order. And that's why filing 8606 must be allowed in the next year. But it is not.
A 8606 has the year on it. A non-deducible contribution *for* 2018 can ONLY be reported on a 2018 8606 that can be mailed by itself. It cannot be reported on a 2019 8606. There is no way to file a 2018 8606 with a 2019 tax return. The IRS can disallow the basis reported on the wong year 8606 if the filed form does not match what the financial institution reports on the years 5498 form.
BTW there is a $50 venality for a missed 8606 but the IRS will usually waive that if you attach an explanation.
You can download the form as I posted above.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
