@kng88 wrote:
Thank you @macuser_22 for your reply! This is exactly what I was looking for.
May I ask you a follow-up question regarding to the earnings attributable to the excess contribution? Will the earnings still be subject to the 10% early withdrawal penalty even though I am recharacterizing the earnings to a traditional IRA account?
No. The earnings are simply moved to the other account.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
