An alternative would be to recharacterize the excess to be a traditional IRA contribution instead. This avoids any change in MAGI, but might result in a nondeductible traditional IRA contribution. Because when you have basis in nondeductible traditional IRA contributions you must tracking that basis until you have nothing left in traditional IRAs at the end of some year as a result of making distributions and Roth conversions from your traditional IRAs. Distributions from your traditional IRAs will be a proportionate mix of nontaxable basis and taxable amounts.
