For a 2022 Roth Contribution:
recharacterization: the original amount to the first IRA you report as contribution to the second IRA, earnings move but are ignored.
You must use a trustee-to-trustee transfer before the due date April 15,2023 ( or Oct 15, 2023 if 1040 was timely filed..).
You will instruct trustee to calculate the allocable earnings.
report this on your tax return for the year during which the contribution was made.
Treat the contribution as having been made to the second IRA on the date that it was actually made to the first IRA.
--- If you recharacterized in time, then it is no longer a Roth contribution and it is not an excess contribution. as long as you had earnings in 2022 no less than the contributed amount.
It may be a non-deductible contribution in whole or in part depending on your AGI.
That is the reason you must amend 2022.
@mahoosuc
