Form 8606

[delta_hotel]

Hi Experts!

I have been filling out form 8606 for 10+ years but just noticed on my 2024 taxes I forgot to fill this form out.  I guess the reason I missed it was because I did not take any distributions for 2024.  I'm thinking I can just continue form 8606 in my 2025 tax return and life should be good.  If ever audited, I can show 10+ years of form 8606 and the fact that I did not take a distribution in 2024.  I do plan to take an IRA distribution in 2025 and adjust cost basis on form 8606 accordingly.

Any thoughts and or advice on just waiting for 2025 tax return to catch-up on form 8606?   I'm sure the best move would be to amend my 2024 tax for, but I'm looking to avoid the hassle and cost of amending my 2024 taxes.

Thanks in advance for your input.

Dave

[fanfare · Accepted solution]

when no relevant action occurred, Form 8606 is not filed.

IRS, and you,  always go by the last previously  filed Form 8606.

@delta_hotel 

[delta_hotel]

Thank you for your input!