If you made a conversion (moved earlier traditional IRA contributed funds to Roth IRA) then there isn't a limit that you can convert. Conversions are generally taxable unless you made nondeductible contributions to the traditional IRA (had a basis) then the nontaxable part is calculated on Form 8606.
If you recharacterize a traditional IRA contribution as a Roth contribution then we pretend that the contribution was never made to the traditional IRA but was made only to the Roth IRA. In this case, there could be an excess contribution if your income limited your Roth contributions.
Then to avoid the 6% tax on excess contributions, you must withdraw (request this with your financial institute):
- the excess contributions from your IRA by the due date of your individual income tax return (including extensions); and
- any income earned on the excess contribution.
Yes, if you have an excess Roth contribution because of too high income then you are able to make traditional IRA contributions instead (or recharacterize a Roth contribution as a traditional IRA contribution).
Please see What happens if I made an excess Roth IRA contribution and What's the difference between a conversion and a recharacterization? for additional information.
If you provide more details about what you did then we will be able to provide you with more guidance on how to enter this in TurboTax.
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