Does the traditional IRA 60 day rollover rule apply to withdrawal from IRA due to excess?

[simplitia]

Hi, filing for 2019 but turbo tax warn that contributed in excess to my IRA roth. I went through with a excess removal and the money was deposited into my account. However I realized a few days ago that I shouldve just roll over to my traditional instead. Question is this too late or can I just simply take that money and deposit straight to my traditional. This is for 2019 filing. thanks!

[macuser_22]

No it does not because a Roth can never be "rolled" to  Traditional IRA.    You could have had the contribution *recharactorized* to the Traditional IRA by the July 15 due date of the tax return (or Oct 15 if you filed an extension).  That would treat the Roth contributions as if it never occurred and the original contribution was to  Traditional IRA instead.   It is too late to do that now if the money is not in the Roth.

[simplitia]

@macuser_22  thank you so much that makes a lot of sense!  Followup question,  would I be able to recharacterized say 9000, 6k + 3k of profit since there is a limit to how much we can contribute for traditional IRA per year?  Also something that is strange to me is, how would I then track the what was profit vs invested in the new IRA?  thanks!! 

[macuser_22]

Recharacterize from what to what?    You said that you already removed the money from the Roth.  What did you contribute $6,000 to?     If you mean that you put it in a Traditional IRA, then you cannot recharactorize it to the Roth for the same reason that you could not contribute to the Roth in the first place.  

There is a limit as to how much if a Traditional IRA contribution  can be deducted if covered by a retirement plan at work,but you can still contribute up to the maximum (as long as you have taxable compensation of that amount) and the contribution will be non-deductible "basis" reported on a 8606 form.

You can, however, *convert* the Traditional IRA to a Roth which would be taxable, but as long as you have no other Traditional IRA accounts and the 2020 year end value of all Traditional IRA's is zero, then the non-deductible basis will offset the tax.  The earnings will be a taxable conversion.