<prompt> Human: I thought that the contribution limit for IRA was 5500 for each account. When I was filling out my taxes on TurboTax it told me that I had contributed too much. What should I do?Edit: I deposited the 5500 into each in July 2017 and now the Roth is valued at 6300 and the traditional is at 6000. Is there a form I need to complete to withdraw one or can I transfer the traditional to the Roth and use it for this years 5500?  <response>: You can leave the excess 5500 in, pay 6 excise tax for 2017 Form 5329 on 5500, then consider it as 2018 contribution.You can take out 5500 plus associated growth, and pay income tax on the growth. 