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As you said you have 2 recharacterizations and 2 conversions. However, even though the recharacterization of your 2016 contribution occured in 2017, it should have been reported on your 2016 taxes. If you didn't do that you may need to amend that return and file Form 8606 for a non-deductible traditional IRA contribution, though it shouldn't change your tax ...


2

It seems correct. The "basis" of a Traditional IRA is the "after-tax part" of the Traditional IRA, i.e. the part that won't be taxed on withdrawal. The basis doesn't change as the value of the Traditional IRA changes. So, for example, if the Traditional IRA grew, then the "earnings" are not part of the basis (i.e. the earnings are before-tax and need to be ...


2

I wrote an article about this a while ago with detailed instructions, so I'll link to it here. Here's a snippet about how to use the Roth IRA loophole and report it properly: You don’t have any Traditional/Rollover IRA at all. You deposit up to the yearly maximum (currently $5500) into a traditional IRA. In your case, you re-characterized, which means you ...


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If I recall, you send the 1040X, and only the forms that changed, no need to send entire return or even 1040.


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I don't think you are ever required to have third-party 'information' reports other than those used as evidence of withholding, as long as the information you put on your forms and schedules is correct -- although in some cases this is difficult or impractical without the third-party info. Your fiance (and you) need to be certain that the contributions were ...


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I was able to get all the information I needed (just barely) so I thought I'd share to see if I can help anyone else. Anyone in this situation should try to fix it right away. Both banks and the IRS keep information for a limited period of time. The IRS has tax transcripts going back 10 years and my bank has records going back 8 years. If you need info ...


1

To correct a mistake in a past year of US federal taxes (or earlier this year), file a corrected return for that year, using Form 1040X. This may affect your state or city returns for that year too,; check with the appropriate agencies to get their instructions.


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