one 1099 R for prior and current tax year

[koulekovag]

I made a backdoor nondeductible Traditional IRA to Roth conversion in April 2022 $7k (Year 2021) and another $7k for year 2022. I didn't receive form 1099 R then, so i didn't include this in my 2021 tax return.  Yesterday - 2/5/2023 -  i received 2022 1099R form with one line of $14,000 for both years. 

I read posts and followed steps from this forum ( thanks!) and i entered the total 1099R amount of $14k for current and prior tax year as prompted. Now my 1040 show the whole $14,000 on IRA distribution line, but i had to put Dec 2021 cost basis of $7,000 for this to happen.  My concern is that i haven't submitted 2021  Form 8606, and yet I entered it into the program. 

Would submitting 8606 standalone form to IRS for 2021 will be sufficient for this situation or should i file an amendment? If i do file an amendment, how do i handle the fact that i received one combined 2022 1099R tax form with both years. 

Thank you and I appreciate any help with this! 

[fanfare]

https://ttlc.intuit.com/community/retirement/discussion/re-what-to-do-when-took-withdrawal-from-non-...

See this thread - in it's entirety - for how to get old Form 8606 to the IRS

@koulekovag 

[koulekovag]

Thank you very much! I truly appreciate you taking the time

[steiny1227]

Hi koulekovag

What did you end up doing in this situation? I have the same situation with my 2024 1099-R showing both 2023 after-tax contributions (made after I already filed those taxes) and 2024 contribution. I just went back and amended my 2023 return showing I contributed after tax dollars between Jan 1 and April 15, 2023 but didn't have an actual 1099-R form to include in 2023 since my contribution was made in 2024.

I still can't download my amended return (I guess TT doesn't allow until it's accepted), but when I do I'm hoping there is now a Form 8606 included that shows I had a contribution from a previous year and not making my 2024 taxes look like I over-contributed (which is saying I owe a penalty on). Please advise.

Thanks!

[MarilynG1]

Yes, you are on the right path.  Even without the 8606, you can indicate your prior year-end IRA Basis in TurboTax for 2024.

Here's more info on How to Trigger Form 8606.

@steiny1227