You originally asked,
"is it possible to apply the excess contribution to 2020,"
subtract the excess from what you could contribute in 2020 and reserve for this purpose..
If you already used up that amount as a contribution for 2020,
you could try again next year, you will pay the 6% two times.
If your growth is way up it could be worth it. already you must pay 6% at least once.
there is no 10% penalty to take out excess contribution.
@dmertz the computed earnings is not considered an early withdrawal under age 59 1/2, right ?
