Filed 8606 but should not

Submitted by ret on Sun, 2018-02-25 18:22

Hi! I just filed my 2017 tax report, and I see that TurboTax added form 8606 and stated nondeductible contributions. I did not make any nondeductible contributions and would like to correct this error. If I understand this correctly, 1040 should not change because of that. Thanks!



Submitted by Alan - IRA critic on Sun, 2018-02-25 18:53

If you made a 2017 non Roth contribution, it either has to be deducted on line 32 or reported on Form 8606. If you did not make a non deductible contribution and you do not need the 8606 for any other reason, wait until early May, and send in a corrected 8606 showing 0 where you showed a contribution before. You do not need a 1040X.

Submitted by ret on Mon, 2018-02-26 01:34

I did not make non-deductible contribution. So the only thing I have to do is send corrected Form 8606 in May and that’s it? Thanks.

Submitted by Alan - IRA critic on Mon, 2018-02-26 03:19

Yes, that is all you have to do. Write “corrected 2017 Form 8606” on the top of the form.

Submitted by ret on Mon, 2018-02-26 04:03

Thanks!

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