EXACTLY. That is my point. You are not allowed to file 8606 one year later. And that's, in my personal opinion, idiotic. Because what happens is people contribute for previous year AFTER they file the return. Because practically every broker/financial advisor REMINDs you that "you can contribute for previous year until April 15" without reminding that this REQUIRES filing 8606 form with previous year return.
I am almost done with my current return (thank you), and I'll print and fill those form with my explanation why I am late to try to avoid fine. Thank you.
P.S. The fact that one uses that "contribute for previous year" possibility means that he/she, most likely, used to have a simple tax situation and already filed your return (because it was simple). So, I think my problem is quite widespread among those who use brokers' bait to add previous year IRA contribution.
Allowing
