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Basis not entered on 8606

I accidentally forgot to enter my basis on Form 8606 for the past two years (2018 and 2019). Do I need to file an amendment so that my basis is properly tracked? 

 

If yes, how do I file an amendment (where is the form to do so)?

 

Thanks! 

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1 Reply

Basis not entered on 8606

Unless you reported the contribution  and deducted it then reporting it a s non-deductible contribution on a 8606 form will not change the taxable amount so there is nothing to amend. 

 

The missing 8606 forms can be filled by hand and mailed in.

 

2018 form:    https://www.irs.gov/pub/irs-prior/f8606--2018.pdf

2018 instructions: https://www.irs.gov/pub/irs-prior/i8606--2018.pdf

2019 form: https://www.irs.gov/pub/irs-prior/f8606--2019.pdf

2019 instructions: https://www.irs.gov/pub/irs-prior/i8606--2019.pdf

https://www.irs.gov/filing/where-to-file-addresses-for-taxpayers-and-tax-professionals-filing-form-1...

**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.**

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