Search found 2 matches

by intangible
Wed Apr 20, 2016 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Filed form 8606 when not needed - should I amend?
Replies: 13
Views: 1852

Re: Filed form 8606 when not needed - should I amend?

Dear forum members,

Thank you for weighing in with your opinions. Very much appreciated. Would you know the answer to the penalty subquestion?

Is this situation considered overstating the cost basis and will this mean I have to pay $100 penalty for each amended 8606?
by intangible
Tue Apr 19, 2016 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Filed form 8606 when not needed - should I amend?
Replies: 13
Views: 1852

Filed form 8606 when not needed - should I amend?

Hello Forum, A new member here. I realized a mistake on my 2014 federal tax returns while doing 2015 returns. Apparently while doing 2014 tax returns using TaxAct, I did a what-if analysis on back-door Roth conversion. I entered $5500 each in non-deductible IRA contributions for myself and spouse to...