You can file the 8606 if you want but it probably is not necessary.No, there is no $50 penalty for parts II & III. The penalty only applies for failing to file ...
Part III would generally be needed to report any nonqualified Roth IRA distribution, but if the entire distribution was taxable, the IRS probably wouldn't quest...
momrose, this thread is a discussion about Form 8606 Part I and the statement that you quoted is referring only to that part. You are instead referring to Parts...
You only need a 8606 if you made a non-deductible Traditional IRA contribution or took a distribution for Traditional IRA with a non-deductible basis.If you hav...
I don't see my exact situation addressed in this thread either. I have never filed a Form 8606 because I never realized that I needed to. I have been doing my o...