To recharacterize,I transferred $8400 ($6,000 contribution plus $2,400 earnings) from my Roth IRA to a traditional IRA in March 2023. However, within two days, I realized that $2,400 was an excess contribution and promptly removed it from the traditional IRA, leaving a balance of $6,000.
Now, I am seeking advice on how to cancel the impact of the excess removal. One option that I am considering is to recontribute the $2,400 to the traditional IRA. However, I am unsure if this is a good approach or if there are other methods available to me. Any guidance or suggestions on how to proceed would be greatly appreciated.
