Jane (49) contributed $7,000 to her traditional IRA on November 11, 2021. She comes into your office in February of 2022. As Jane's tax preparer, what should you do?

Advise her to recharacterize $1,000 of the contribution (and any associated earnings) to a Roth IRA.

Advise her to withdraw $1,000 (and any associated earnings) prior to her filing deadline (including extensions).

File Form 8606 with her return to report basis for the $1,000 of nondeductible contributions.

Ask her questions to determine whether any penalty exceptions apply.