2280070
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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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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