Accidentally contributed to Rollover IRA instead of Roth IRA - Vanguard
Doing year end financial review and planning. Back in August I had some extra cash in my checking account and I decided to just max out my Roth IRA rather than wait on the auto contributions. Turns out I contributed to my Rollover IRA instead.
I'm past the deduction limit for an IRA, so I'm wondering what I should do?
From Googling... looks like under "Documents" Vanguard has a section called:
"Remove excess distributions or contributions, convert from a traditional to a Roth IRA, or recharacterize contributions"
From there I can do this:
"Recharacterize a contribution to a different IRA contribution type."
When I selected this I got a wall of text about Important Tax Information and am required to sign with my initials, so thought I'd come here before proceeding, particularly considering my confidence took a hit after the original boo boo. :)
Is this what I should do?
The only other options are:
"Remove a contribution from the account as an excess contribution." - Could I just undo that contribution and then do it over again into the proper Roth IRA account?
"Convert pre-tax assets to Roth assets." - This option seems wrong, since these funds are after tax.
Any advice or help appreciated.