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Old 02-07-2012, 11:54 PM
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Mistake on 2010 filing impacting 2011

I move a 401k to a traditional IRA in 2010 and mistaken identified as an ROTH IRA in turbo tax and it updated form 8086 with a deferred tax payment for 2011 and 2012.

I discovered this when doing my 2011 taxes and realized the large tax bill. Do I need to file an amended 2010 1040X for this situation? If so, do I need to file the amended 2010 before I complete my 2011 taxes identifying that zero taxes are due based on this adjustment? Should I amend the stated filings as well?



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