I have excess Roth contributions for 2025.
If I have those recharacterized to my IRA, does that remove the excess taxes?
Does it become a contribution to my IRA as though I'd put it there in the first place?
Thanks.
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Assuming that the reason for the excess contribution is that your MAGI is too high rather than having insufficient compensation to support the contribution, yes, it removes the excise tax.
Yes, the recharacterization causes it to become a contribution to your traditional IRA as though you had put it there in the first place.
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