Neglected to include non-deductible contribution to IRA on Form 8606 in 2019 filing, do I need to re-file 8606 for 2019?

[pakman04]

Hi there,

I discovered that I (or TT) did not fill in Line 1 on Form 8606 in my 2019 1040 filing, but I did make a non-deductible contribution for 2019 prior to 2020's filing deadline. As a result, my basis is incorrect for 2020.

For context, my basis each year consists entirely of the previous year's non-deductible contribution; I have no outstanding deductible contributions or balances otherwise (I do a backdoor Roth conversion in the current year for the previous year's contribution amount, returning my basis to zero until the next contribution).

When doing my 2020 filing in TT, I was able to enter/override the basis amount, and TT asked me to state a reason for the adjustment, to which I entered "I neglected to enter our non-deductible contribution for 2019."

Since an 8606 was filed with our 2019 return, albeit with an incorrect basis amount, do I need to re-file it for 2019, or will TT generate the necessary documentation for my 2020 return that will satisfy the IRS?

If I do need to re-file the 8606 for 2019 manually, does that also imply that I would need to file a 1040-X as well through TT to amend my 2019 filing to include that info, if I'm just doing it to update the basis amount?

TIA

[DanaB27 · Accepted solution]

Yes, you will have to amend your 2019 to correct Form 8606. You will send Form 1040X with Form 8606 to the IRS.

Please see How do I amend a 2019 return in TurboTax? for instructions.