Greetings! I just found out doing my taxes that because my AGI is too high this year, all of my $7,000 Roth contribution is in excess. I know one option is to re-characterize the $7k and earnings into an IRA. Are there any other options?
1. Can I withdraw the excess contribution and put it into my son's 529 plan?
2. Can I withdraw the excess contribution without penalty and place into a checking or savings account? Then count the earnings on 1099-R?
3. Are there any other options? I have not filed yet.