Ashamed – Filed 8606 But Forgot to Contribute
Somewhat ashamed here — I just now realized (wth, right?) that I never contributed (via backdoor 8606) to my Roth for TY2014 — but I /reported/ a completed 8606 with my return in April.
Is there any recourse here?
For the record, I have no traditional IRA assets at this time, so I’m not really worried about the accounting side of things — I’m really only concerned about the long-term value of the money being in a Roth-characterized status.
Permalink Submitted by David Mertz on Mon, 2015-11-30 13:25
Amend your 2014 tax return, including a corrected Form 8606 that shows that you made $0 of nondeductible traditional IRA contributions for 2014 and, if also true, that you performed $0 of Roth conversions in 2014. (Even though you made no traditional IRA contribution for 2014, you still might have performed a Roth conversion of other traditional IRA funds in 2014, in which case your amended 2014 Form 8606 would still show this Roth conversion.)