@DanaB27
When I apply 2018 contribution towards 2019, what happens to the earnings on those excess contributions?
Will it automatically be handled the Roth IRA manager/administrator, which transferring 2018 earnings to 2019?
Will there be extra penalty on the earnings? Since I'm not withdrawing (younger than 59.5 years), in a hypothetical case I shouldn't be penalized. I can get away with just 6% penalty on the excess contribution amount.
If I'm getting penalized on the earnings then my best best would be recharacterizing 2018 contribution + earnings to traditional IRA like the case in 2020.
