I have an existing trane (6 wire) thermostat model tay stat 241 with the following the following terminals.

y1, w1, w2, g1, r, b. each terminal has a wire connected.

My new programmable digital thermostat is a honeywell rth 6300b that has 5 terminals.
g, w, y, r,rc

Please advise on how to connect the existing wiring to the new thermostat.

Thanks

You have the wrong thermostat. I believe you need a heat pump thermostat.