You can fix this by asking the financial institution to recharacterize the contribution from the traditional IRA to a Roth IRA. A recharacterization moves the contribution (plus or minus earnings) as if it were originally made to the Roth, so it's not treated as a withdrawal or rollover.
Here's what to do:
- Contact the IRA custodian and request a recharectarization of the contribution.
- This must be completed by the tax filing deadline (including extensions) for the year of the contribution.
Since the money hasn't been invested yet and is under $100, the process should be simple.
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