I accidentally over contributed $25 to my traditional IRA last year giving a total non-deductible contribution of $5025. This was then converted along with all my traditional IRAs into Roth IRAs in 2010.
Now shall I recharacterize $25 from Roth to Traditional IRA and then do removal of excess distribution of $25 from my traditional IRA? Is this worth all the hassle? Will the IRS care about such a paltry sum? What are the penalties and fines for just leaving it be? The complication to taxes hardly seems worth the effort of this inadvertent error.