Can I correct the total basis reported on line 2 of 8606 this year? I have 8606 forms for 4 recent years but failed to add prior years amounts to subsequent year amounts.

Line 14 only shows the most recent nondeductible IRA contribution, instead of the total amount for all recent years. 2020 is the first year that I did a Roth conversion.

589

Level 15

Feb 19, 2021 10:56:03 AM

You need to file amendments to the incorrectly prepared Forms 8606 that you filed. See the instructions for Form 8606:

https://www.irs.gov/pub/irs-pdf/i8606.pdf

Level 2

Mar 19, 2023 5:23:38 PM

I figured this out.

Why sign in to the Community?

Can I correct the total basis reported on line 2 of 8606 this year? I have 8606 forms for 4 recent years but failed to add prior years amounts to subsequent year amounts.