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The response from IRS will probably be something like:
"we received your forms and updated your records accordingly".
Due to issues in IRS, expect to get that nine to ten months after you send it.
"Due to issues in IRS, expect to get that nine to ten months after you send it."
Ok got it.
After sending these forms to IRS, How soon can I convert the t-IRA to Roth IRA (backdoor conversion to Roth IRA)?
there is no reason to wait.
A conversion today would not be reported until April. Or October if you request an extension of time to file.
thnx @fanfare @Opus 17 @Critter-3
I sent (through USPS basic post) 1040-x with two 8606 (for yr 2020, for both me and spouse).
And then done the IRA conversion to Roth IRA. Fingers crossed.
Now going to contribute to IRA for 2022, and then conversion to Roth IRA
Note: The only time(till date) I contributed to IRA is tax year 2020, and it was nondeductible contribution
I got reply from IRS in mid May, and I still dont see 8606 form in the online IRS transcript for 2020. What can be the reason for not seeing 8606 form in 2020 transcript
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