I want to convert my conventional IRA to a Roth. Is the conversion considered earned income? I've had a lot of investment gains on the IRA, so much of the total is actually investment income. Can this be reduced by passive losses? Also, some of my IRA contributions were after tax income, so I've already paid tax on that and reported in previous years on form 8606. Can I exclude those amounts from taxes due on the conversion?

IRA distributions (which this is) are not passive income with which you can offset passive loss. The after tax contributions, however, are the basis you've been tracking on your 8606's, and that won't be taxed again. The handling of Roth conversions is not completely clear yet, as the forms have not been released, but this is not in question, as long as your 8606's have been filed.