Message Font: Serif | Sans-Serif
No. of Recommendations: 0

I have been contributing to an IRA account for several years now. The
first few years, my contributions have all been deductable and in 1994,
my contributions became part deductable and part non. In that year, I
never filed an 8606 Form. I have filed an 8606 form for every year since.
How do I fix the basis for this year's 8606 Form? Is there a penalty for
not filing the 8606 for the 1994 Tax Year? Do I need to file an
amendment for the 1994 tax year for this?

Thanks very much
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.