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Legally you cannot do that... if you have a basis a form 8606 is required to be used.
Beyond being the filing of an inaccurate and fraudulent tax return, reporting lower than actual basis in nondeductible traditional IRA contributions would result in the unreported basis being permanently lost, no longer available to be used to reduce the taxable amount of future distributions; you cannot just magically make the basis reappear at some later time.
Legally you cannot do that... if you have a basis a form 8606 is required to be used.
Beyond being the filing of an inaccurate and fraudulent tax return, reporting lower than actual basis in nondeductible traditional IRA contributions would result in the unreported basis being permanently lost, no longer available to be used to reduce the taxable amount of future distributions; you cannot just magically make the basis reappear at some later time.
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