John the third
Confused about dryer sheets
I've done back-door ROTHs every year since 2014. For 2014-15, the TaxCUT software generated the Form 8606. I recently noticed when I started using TurboTax in 2016, no 8606 form was generated (perhaps due to my using the software incorrectly). Prior to 2014, I never contributed to an IRA (always had 401k access). So, basically, each year I would contribute $5500 ($6500 when I turned 50) and convert it to ROTH immediately. I know I can always file 8606 forms for prior years and I know there's a $50 penalty. My question is... why do I need to file one given that each year my beginning and ending basis in the IRA is $0 and I have no other IRA accounts? Should I file the 8606s for 2016/2017/2018 or not? (I plan to file one for 2019). Advice much appreciated.