@russellpsi 1) You claim the the 2017 contribution made *in* 2018 *for* 2017 on your 2017 tax return as a non-deductible contribution. That will produce a 8606 form with carry forward basis on line 14.
2) You claim the 2018 contribution next year on your 2018 tax return also as a non-deductible contribution that will go on line 1 of a new 2018 8606 form. The 2017 carry over from the 2017 8606 line 14 will go on line 2 to and the total of both on line 3.
3) You will get a 2018 1099-R reporting the distribution that you rolled to a Roth, assuming that it was the total of both contribution plus any earnings and the Traditional IRA ended up with zero value, the two non-deductible contributions would offset the distributiin, leaving only any earnings as taxable income.
**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.**
