return of excess contribution:
before tax due date including extensions: positive earnings allocable to the excess are taxable on the Line 4b for the year of the contribution. negative earnings are ignored; in which case, for purposes of basis, consider the original requested amount as returned.
for 2022, positive earnings removed arer penalized 10% if you are under age 59 1/2. (eliminated for 2023)
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recharacterization: the original amount to the first IRA you report as contribution to the second IRA, earnings are ignored.
report this on your tax return for the year during which the contribution was made.
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Evidently , Vanguard now wants you to submit your "request forms" online instead of US mail.
@lolo1231
