recharacterization: the original amount to the first IRA you report as contribution to the second IRA, earnings are ignored.
report this on your tax return for the year during which the contribution was made.
return of excess contribution:
before tax due date including extensions: positive earnings allocable to the excess are taxable on the Line 4b for the year of the contribution. negative earnings are ignored; therefore, do report the entire requested amount as returned .
positive earnings removed are penalized 10% if you are under age 59 1/2.
after tax due date including extensions: you distribute the excess amount being carried forward on 5329,
(or offset it with currently allowed contribution) .
Earnings stay in the Roth account.
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if you are doing a backdoor Roth, the contribution into the Traditional IRA has to be designated non-deductible
@tobyicnoise
