Form 8606 stand-alone or with amended return

Forum|Forum|3 years ago
April 14, 2023
2 replies
10 views

Hello ProConnect Community!

Can the form 8606 be filed as a stand-alone or does it need to be with amended return if I need to file it after the original return was submitted?

II have heard somebody saying it can be a stand alone document. If so, how can I create a stand alone Form 8606 in ProConnect? Do I have to do it manually? Or does Form 8606 need to be a part of amended return?

Back story... A client fully funded Roth IRA and filed the original return. Later they recharacterized the Roth to non-deductible TIRA due to their MAGI being over the Roth limit.

Thank you!

ProConnect Tax

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qbteachmt

Level 15

Did the corrective distribution include net attributable income that changes the taxable income for that 2022 return? Tax and penalty would be why to amend.

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KTS2021Author

Level 2

@qbteachmt Thank you. That makes sense.

@BobKamman Thank you. The client does need to file a 1040, so amendment it is.

BobKamman

Level 15

What year(s) did all this happen? If 2022, has that return already been filed?

Form 8606 can be filed as a standalone by someone not required to file a 1040. But I think if a 1040 is filed, it has to go as an attachment. If 2022 is involved here, it's not too late to do a superseding return, although that might be more work than needed.

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