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Omission in 2019 form 8606, so info is not flowing into 2020 return, what should I do?

Hello, I'm finishing my 2020 return with Turbo Tax CD version. I did a Roth backdoor conversion in 2020 contributing to 2019 and 2020 in the same year. I did not have any money in a Traditional IRA in 2019. My 2019 Return includes form 8606 but I realized I did not fill out the form correctly since the information is not flowing into my 2020 return.  What should I do to fix this?

 

On form 8606, I entered 7,000 on line 1 and zero for line 2.

On line 3 and 14 I entered the 7,000 and stopped there. Can I print out a new form 8606 and send an amended form?  Do I make this change in Turbotax 2019 to carry to 2020?   

Do I need to send an amended 1040 for 2019 to reflect the conversion? Or just the 8606?

 

Thank you for your help in advance.  

 

 

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1 Reply
AmyC
Expert Alumni

Omission in 2019 form 8606, so info is not flowing into 2020 return, what should I do?

Yes any years that need correction need to be filed with an amended return. 

 

About Form 8606, Nondeductible IRAs states: 

Amending Form 8606

Generally, after you file your return, you can change a nondeductible contribution to a traditional IRA to a deductible contribution or vice versa if you make the change within the time limit for filing Form 1040-X, Amended U.S. Individual Income Tax Return (see When To File in the Form 1040-X instructions). You also may be able to make a recharacterization (discussed earlier). If necessary, complete a new Form 8606 showing the revised information and file it with Form 1040-X.

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