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I have contributed too much to a Roth for TY2000. I have been reading Pub 590 (p38).

Do I have "recharacterize" the excess into a traditional IRA? Do I have any other options?

I have seen two in Pub 590 but I am not sure if I interpret them correctly:
1. withdraw the contribution and returns completely for and use the money for general use.
2. assign the excess contribution for a future tax year Roth IRA contribution.

Are these two options really possible? Please can you tell me how I can go about doing these?


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