I recently discovered an error on my 8606 for 1994. I erroneously reported a nontaxable distribution of $92 on line 10 of the 8606 even though I didn't receive one. It was my first year using TurboTax and I mistakenly put an amount there. This caused my basis to be $92 too low. I have filed an 8606 5 more times since then so the erroneous basis has carried over to my most recent 8606.
This year I was doing an audit of my nondeductible IRA contributions and I discovered the mistake. I know I need to file an amended 8606 for each of those
6 tax years, but do I also need to file a 1040X for each of those years? The mistake did not affect my taxes due so all figures in column B of the 1040X will be zeroes and there will be no refund or amount due.The instructions for amending an 8606 say "After you file your return, you can change a nondeductible contribution to a traditional IRA to a deductible contribution or vice versa. You also may be able to make a recharacterization (discussed earlier). If necessary, complete a new Form 8606 showing the revised information and file it with Form 1040X, Amended U.S. Individual Income Tax Return." Since I'm not changing a nondeductible contribution to a deductible one or recharacterizing an IRA, it's unclear to me what is meant by "if necessary".