I contributed to Roth IRA Account in Jan-2016 for FY 2016 and again I contributed to Roth IRA account in Jan-2017 for FY-2017.
When I was ready to file my tax return for 2016 in Feb-2017 I came to know that I am ineligible to contribute to Roth IRA account so Re-Characterized my 2016 Roth IRA contribution to Traditional IRA account and did the Back door conversion to Roth IRA account again in sometime march-2017. And I filled my tax for 2016. This was after tax income and I didn't deduct contributions on my income taxes.
Later In Nov-2017 I realized that I am again going to be ineligible to contribute to Roth IRA account for FY 2017. So I Re-characterized that contribution to Traditional IRA and later converted to Roth IRA using Back door conversion.
So basically I performed two re-characterization and two back door conversion in FY-2017. How to file my tax return and 8606? I have received the two 1099 from Financial Institute Roth to Traditional IRA Conversion 1099-R. Another for Traditional to (Back Door) Roth IRA Conversion 1099-R
How do I enter this information correctly on 1040 and 8606 to let IRA know that I have done back door Roth IRA Conversion so I don't have to pay tax again in the future when I am ready for withdrawal.
Thanks for your help and Time! I really appreciate it.