I made 2 years of contributions and conversions for a backdoor Roth in 2018 and I'm seeing a tax cost in turbotax, what am I doing wrong?
I made a nondeductible traditional IRA contribution in early 2018 for my 2017 tax year contribution. I made another nondeductible IRA contribution later in 2018 for my 2018 tax year contribution.
Now I have an $11K 1099R for 2018, and when I enter into turbotax I am paying a tax for my backdoor roth, which I don't believe should be the case. I'm entering my basis as $0 at the end of 2017, since I did not make the 2017 contribution until 2018. My basis at the end of the year I also have as $0, since it was all converted. I feel like I messed up somewhere along the way.
2015 Contributed for 2015 and converted in 2015
2016 Contributed in early 2017 and converted in early 2017
2017 Contributed in early 2018 and converted in early 2018
2018 Contributed in mid-2018 and converted in mid-2018