Can I make a nondeductible traditional ira and immediately convert it into roth? I have Roth IRA and 401k. Do I have to report Roth IRA balance on form 8606?

This years income is a bit higher. I read thAt backdoor ira is legal and simple to do. I already created a traditional ira account and funded it. I read somewhere that I should wait and some said no wait. I’m looking at form 8606 and got a bit confused.