I had no previous IRA accounts but this year I deposited $5,500 in March, 2016 into a 2015 Traditional IRA contribution. Then in that same month, I did a backdoor conversion to a Roth IRA account for that full amount.
Now after that, in the same month, I made a $5,500 2016 Traditional IRA contribution and did a Roth conversion for that full amount.
I think I declared the $5500 Traditional IRA on Form 8606 for my 2015 taxes. Should I declare the initial conversion this year along with my 2nd $5500 conversion or should the initial conversion have been declared on the 2015 taxes? I saw that there were deadlines for Roth conversions. Is my current situation affected by that at all or not?
Thanks!