After already contributing $6,000 to my Roth for 2020 last year, I subsequently sold some stock which pushed my income over the limit for contributing to a Roth. It seems like my options are:
a. Remove the excess contributions, which would incur an early withdrawal penalty
b. Recharacterize it as a traditional IRA
It seems to me that there are no downsides to recharacterizing compared with removing, so is that the optimal step to take?
