IRA contribution limits

Learn about income and contribution limits for contributing to traditional and Roth IRAs.

2019 and 2020 traditional & Roth IRA contribution limits

Total annual contributions to your traditional and Roth IRAs combined cannot exceed:

  • 2019: $6,000, 2020: $6,000 (under age 50)
  • 2019: $7,000, 2020: $7,000 (age 50 or older)

Roth IRA contribution limits and eligibility are based on your modified adjusted gross income (MAGI), depending on tax-filing status. Partial contributions are allowed for certain income ranges.

Traditional IRA contributions are not limited by annual income.

Find out which IRA may be right for you and how much you can contribute. Calculate your IRA contribution limit


2019 & 2020 Roth IRA income requirements

2019

Filing Status Modified adjusted gross income (MAGI) Contribution Limit
Single individuals < $122,000 $6,000
≥ $122,000 but < $137,000 Partial contribution (calculate)
≥ $137,000 Not eligible
Married (filing joint returns) < $193,000 $6,000
≥ $193,000 but < $203,000 Partial contribution (calculate)
≥ $203,000 Not eligible
Married (filing separately)* Not eligible $6,000
< $10,000 Partial contribution (calculate)
≥ $10,000 Not eligible

2020

Filing Status Modified adjusted gross income (MAGI) Contribution Limit
Single individuals < $124,000 $6,000
≥ $124,000 but < $139,000 Partial contribution (calculate)
≥ $139,000 Not eligible
Married (filing joint returns) < $196,000 $6,000
≥ $196,000 but < $206,000 Partial contribution (calculate)
≥ $206,000 Not eligible
Married (filing separately)* Not eligible $6,000
< $10,000 Partial contribution (calculate)
≥ $10,000 Not eligible

Contribution limits for small-business plans?

See annual limits for SEP and SIMPLE IRAs, 401(k)s, and investment-only plans.

If you are covered by a retirement plan at work, you can make a full or partially deductible contribution to a Traditional IRA, based on your modified adjusted gross income (MAGI).

And starting in 2020, as long as you are still working, there is no age limit to be able to contribute to a Traditional IRA. The Secure Act, signed into law on December 20, 2019, removed the age limit in which an individual can contribute to an IRA. The top age prior to the law was 70½.

Find out which IRA may be right for you and how much you can contribute. Calculate your IRA contribution limit


2019 & 2020 Traditional IRA deduction limits

2019

Filing Status Modified adjusted gross income (MAGI) Deduction Limit
Single individuals ≤ $64,000 Full deduction up to the amount of your contribution limit
> $64,000 but < $74,000 Partial deduction (calculate)
≥ $74,000 No deduction
Married (filing joint returns) ≤ $103,000 Full deduction up to the amount of your contribution limit
> $103,000 but < $123,000 Partial deduction (calculate)
≥ $123,000 No deduction
Married (filing separately)* Not eligible Full deduction up to the amount of your contribution limit
< $10,000 Partial deduction
≥ $10,000 No deduction
Non-active participant spouse (e.g., those with spouses who earn no income) ≤ $193,000 Full deduction up to the amount of your contribution limit
> $193,000 but < $203,000 Full deduction up to the amount of your contribution limit
≥ $203,000 Full deduction up to the amount of your contribution limit

2020

Filing Status Modified adjusted gross income (MAGI) Deduction Limit
Single individuals ≤ $65,000 Full deduction up to the amount of your contribution limit
> $65,000 but < $75,000 Partial deduction (calculate)
≥ $75,000 No deduction
Married (filing joint returns) ≤ $104,000 Full deduction up to the amount of your contribution limit
> $104,000 but < $124,000 Partial deduction (calculate)
≥ $124,000 No deduction
Married (filing separately)* Not eligible Full deduction up to the amount of your contribution limit
< $10,000 Partial deduction
≥ $10,000 No deduction
Non-active participant spouse (e.g., those with spouses who earn no income) ≤ $196,000 Full deduction up to the amount of your contribution limit
> $196,000 but < $206,000 Full deduction up to the amount of your contribution limit
≥ $206,000 Full deduction up to the amount of your contribution limit

Contribution limits for small-business plans?

See annual limits for SEP and SIMPLE IRAs, 401(k)s, and investment-only plans.