In 2017 I made a tax year 2016 $5500 nondeductible traditional IRA contribution. Later in 2017 I converted that contribution to a Roth IRA. In December 2017 I recharacterization the appreciated amount back to a Traditional IRA in my Fidelity account that didn't post/complete until January 2018.
When I filed my 2017 returns, I did not report the Roth conversion on form 8606 because I thought the re-characterization would have counted for tax year 2017. Fidelity later sent me a 1099-R form for the recharacterization for 2018. I have inputted this form in Turbotax for my 2018 taxes, but haven't filed yet.
Question 1: Did I correctly report this on tax form 8606 for tax year 2017? Based on the fact that I received the 1099-R for 2018 I think the answer is "no"
Question 2: If I did indeed incorrectly report this in 2017, do I have to amend my 2017 return? Wouldn't form 8606 be accurate because ultimately the amount was re-characterized so the conversion is null and void?
Question 3: How do I determine my correct basis for nondeductible contributions for tax year 2018?
