form 8606 amendment
Form 8606 was incorrectly filed with the 2020 tax return. Even though the corrected 8606 does not change the taxable income, I would like to submit the corrected 8606 form. Can this form be submitted by itself now or does it have to be submitted along with 1040-X?
Does the new 8606 form override the earlier one that was submitted with the 2020 return?
Permalink Submitted by Alan - IRA critic on Wed, 2021-11-24 01:55
The IRS sometimes allows the 8606 to be filed alone, but sometimes asks for a 1040X. Depends on the examiner. If you file it alone, be sure to fill in the header and the signature portions of the form, and note on the form that the revision does not change the amount of taxable income on your 2020 return. One of the few things about the form that the IRS Notices is the failure to report conversions in Part II.