I carried forward a 5500 basis on my traditional IRA from 2016. I again contributed 5500 to non-deductible IRA in 2017 and then converted the 11000 to Roth IRA prior to December 31st, 2017. This is reflected through a 2017 1099-R.
When I get to questions on basis and "Tell Us the Value of Your Traditional IRA". It asks for the value of my IRA on December 31, 2017 (which was technically 0, due to the conversion to Roth). Is that what I enter here? There is also field for "Outstanding Rollovers" but it doesn't have much detail. I don't believe the rollover is outstanding.
Since I converted to Roth IRA, do I no longer carry any basis forward? What should I expect to see on my 8606 for 2017?
