Put wrong total basis for IRA in my taxes

This is for form 8606 for nondeductible IRAs.

For my total basis in traditional IRA I wrote 11500 which I thought was the total I had put in at this point plus this years contribution. (5500 2018,6000 2019)

Now it shows my total basis for 2019 and earlier for traditional IRAs is 17500 when I really only have 11500 total.

Do I need to refile my taxes with this updated correctly or can I just wait for next years taxes and put the right total basis then?



View Reddit by LeRobinView Source

Leave a Comment

Your email address will not be published. Required fields are marked *