topic Amend Form 8606 in After you file

Amend Form 8606

sammerin11 — Wed, 22 Jan 2025 00:20:39 GMT

I filed form 8606 for 2023 tax year but the basis in line 2 is incorrect, as it does not capture data from 2022. I believe I need to amend my 2023 return, so I have the proper basis to use for 2024. How can I do this within TurboTax online? I cannot figure out how to just directly get to the form and edit it. Thank you!

Re: Amend Form 8606

MaryK4 — Wed, 22 Jan 2025 23:28:10 GMT

If you want to correct the entry directly on the form, you would have to have the download version of TurboTax - you can make an override in Forms mode.

You can also enter the correct amount by going back to the 1099-R entry. You will be able to enter your Total Basis as of December 31, 2022 to enter the correct amounts for the 8606 and the 1040X.

Re: Amend Form 8606

sammerin11 — Thu, 23 Jan 2025 01:13:44 GMT

I ended up downloading Turbotax to desktop to modify my forms. Though I added in the 1099-R, it still would not update the basis for some reason. Thank you!