should i amend form 8606 for 2022

Dear forum advisers,

I really need advice here. 2022 was first year i had RMD that was partially nondeductable ira. In 2023 I realized in 2022 I made mistake when entered $150K which was 40K too high an amount for value of all Traditional iras (line 6). after reworking the forms through 1040 with correct amount it showed I paid $20 too much tax. So for form 8606 of 2023 I entered the correct amount on line 6 for that year and sent with my 1040.  But have not amended 2022

So I could amend form 8606 for 2022 but should I? It would involve an amended 8606, new Qualified Dividends worksheet, and a 1040-X.  Net result $20 refund. not enough to be worth it, considering all the paperwork IRS would now scrutinize if i do amend.  Will this error on line 6 be a red flag anyway and better to show them i already fixed it?. I sent the 2022 tax forms in about a year ago (extension filed). I sent 2023 last month.  I read here that an amended 8606 sent alone will get returned asking to submit with a 1040-X. So that maybe not option.

I do not think I am required to amend, since an honest mistake that did not lower my tax, but should I?

I appreciate any help if you have experience with these issues. Thank you.

 

 

 

 



Thank you for a prompt answer.  That is answer I was hoping for, but with no experience like you have, I could not decide what to do..  I trust your advice, so thanks for reading the forum and offering help.  It made my day not filling out all those forms.

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