Yes - you must report a 2017 contribution on the 2017 tax return. For doing a backdoor Roth you want that to be a non-deductible contribution that will be reported to the IRS on line 1 of a 8606 form. Any other prior year non-deducible contribution (if any) on line 2 and the the total on lines 3 & 14. In 2018 you will use that line 14 amount to offset the tax on the conversation. TurboTax will attach the 8606 automatically when you enter a non-deductible Traditional IRA contribution.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
