You do not have to file a Form 8606, but you do need to keep the information for future entries. File Form 8606 if any of the following apply. You made nondeductible contributions to a traditional IRA for 2020, including a repayment of a qualified disaster or reservist distribution. You received distributions from a traditional, SEP, or SIMPLE IRA in 2020 and your basis in these IRAs is more than zero. For this purpose, a distribution doesn’t include a distribution that is rolled over (other than a repayment of a qualified disaster distribution (see 2020 Forms 8915-C, 8915-D, and 8915-E)), qualified charitable distribution, one-time distribution to fund an HSA, conversion, recharacterization, or return of certain contributions. You or your spouse transferred all or part of their traditional, SEP, or SIMPLE IRA in 2020 to the other spouse under a divorce or separation agreement where the transfer resulted in a change in the basis of the IRA of either spouse. You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2020. You received distributions from a Roth IRA in 2020 (other than a rollover, recharacterization, or return of certain contributions—see the instructions for Part III, later). You received a distribution from an inherited traditional, SEP, or SIMPLE IRA that has a basis, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution. You may need to file more than one Form 8606. See IRA with basis under What if You Inherit an IRA? in Pub. 590-B for more information.

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trung_tran_az

Level 2

Question

I had non-deductible IRA contributions (from 8606s) in 2017, 2018

Forum|Forum|5 years ago
March 23, 2021
6 replies
27 views

No text available

TurboTax Online

MaryK4

Alumni - Intuit

You do not have to file a Form 8606, but you do need to keep the information for future entries.

File Form 8606 if any of the following apply.

You made nondeductible contributions to a traditional IRA for 2020, including a repayment of a qualified disaster or reservist distribution.
You received distributions from a traditional, SEP, or SIMPLE IRA in 2020 and your basis in these IRAs is more than zero. For this purpose, a distribution doesn’t include a distribution that is rolled over (other than a repayment of a qualified disaster distribution (see 2020 Forms 8915-C, 8915-D, and 8915-E)), qualified charitable distribution, one-time distribution to fund an HSA, conversion, recharacterization, or return of certain contributions.
You or your spouse transferred all or part of their traditional, SEP, or SIMPLE IRA in 2020 to the other spouse under a divorce or separation agreement where the transfer resulted in a change in the basis of the IRA of either spouse.
You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2020.
You received distributions from a Roth IRA in 2020 (other than a rollover, recharacterization, or return of certain contributions—see the instructions for Part III, later).
You received a distribution from an inherited traditional, SEP, or SIMPLE IRA that has a basis, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution. You may need to file more than one Form 8606. See IRA with basis under What if You Inherit an IRA? in Pub. 590-B for more information.

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macuser_22

Alumni - Champ

What is your question?

**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.**

trung_tran_azAuthor

Level 2

Since I didn't report any of the amount from the previous year's 8606 to the following year return, I want to know how to correct the mistake now. Do I need to file an amend for each of those years?