Backdoor Roth

[DanaB27]

Yes, generally you don't need to amend if there weren't any changes to your tax return. But now your returns included the corrected Form 8606. Therefore, you will need to file an amendment. Please see Who Must File Form 8606 for details.

@Anonymous 

[Anonymous]

I'm going to have to back in time and check all my returns since 2017.  Each year I made a full contribution to an IRA for a day in January  for  that given year, then converted to a Roth. I had no other types of IRA'S.   At least in terms of the 2022 8606, is it correct to show lines 1,3,5, 13,16,17 to be 7,000, then the rest either blank or "0"? Overall, should be the same results that I showed in token 1081940

If I have that part correct, it will be clearer to double check. Thanks!

[DanaB27]

Yes, if you made the nondeductible contribution and the conversion always in the same year then you will always use up the basis and there won’t be a carryover to the next year (line 14 will be $0). Then your 2022 Form 8606, with the numbers mentioned, is correct.

@Anonymous

[Anonymous]

I'm filling out an amended return for 2020. It's actually my 2nd amendment, the first one processed successfully along time ago. All I did was change it from a rollover to a conversion. There is no change in tax owed.

When I look at the 1040x, there is no form 8606. Should I be concerned? If there's any need to look at it, i generated a token ~ 1093410

[fanfare]

You file a corrected Form 8606 only to change your prior years basis.

every time you do a backdoor Roth your traditional basis starts with zero and ends with zero.

you wouldn't have to file a bunch of forms 8606 to show that your basis was and still is zero.

If you insist,

Note: when you file 1040-X and no dollar amount are changing, leave Lines 1-23 EMPTY.

Do not include your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return. In this case, nothing is changing.

@Anonymous 

[Anonymous]

It was suggested above by DanaB27  to. I can't find any offical documenation from the IRS whether it needs to be updated. In both cases, I put a rollover instead of a conversion. For some reason, my 2020 does not show a 8606 being generated. For 2021, the 8606 shows line 14 being the full value of my contribution instead of "0".

In both cases, the amount due does not change.