Thank you for all of your answers. So for example, if I contributed $1000 to Roth which I was not supposed to and want to recharacterize it to traditional, I simply tell my institution to recharacterize the $1000 I contributed and they will automatically calculate the earnings for me and transfer that amount over to traditional? Then on TurboTax I report that I recharacterized the $1000 as to not pay the penalty? Then for tax year 2021 I report again the recharacterization? Just want to make sure.... thank you
