In July of 2014, I recharacterized the 2013 Traditional IRA contributions for me and my wife to Roth IRA contributions. It turns out we made too much to claim any deductions. Vangaurd reports form 5498 to the IRS every May, so the transaction I mentioned above were just sent over.
My understanding is that I need to file an amended return for 2013 (Form 1040x) and include form 8606. After reading the instructions for filling out form 8606, I read this. The highlighted portions describe my situation.
You made a contribution to a traditional IRA and later recharacterized part or all of it in a trustee-to-trustee transfer to a Roth IRA. If you recharacterized only part of the contribution, report the nondeductible traditional IRA portion of the remaining contribution, if any, on Form 8606, Part I. If you recharacterized the entire contribution, do not report the contribution on Form 8606. In either case, attach a statement to your return explaining the recharacterization. If the recharacterization occurred in 2014, include the amount transferred from the traditional IRA on Form 1040, line 15a; Form 1040A, line 11a; or Form 1040NR, line 16a. If the recharacterization occurred in 2015, report the amount transferred only in the attached statement, and not on your 2014 or 2015 tax return.
Here are my questions
1) What makes up a valid "Statement"? Is a comment in the section III of the 1040 (Explantion of Changes) sufficient?
2) I don't think I even need to include an 8606. Am I correct in that understanding?
3) As far as the 1040x Incode & Deductions section, Tax Liability section, etc. Nothing has changed from the original submission. Do I even need to bother filling them out?
Frankly, I'm wondering if I even need to file an amendment at all.
Any help is greatly appreciated.