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 — You are covered by a retirement plan at work

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

2019 — You are NOT covered by a retirement plan at work

Filing Status Modified adjusted gross income (MAGI) Deduction Limit
Single, head of household, or qualifying widow(er) any amount A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is not covered by a plan at work any amount A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is covered by a plan at work $193,000 or less Full deduction up to the amount of your contribution limit
> $193,000 but < $203,000 A partial deduction (calculate)
≥ $203,000 or more No deduction
Married filing separately with a spouse who is covered by a plan at work
< $10,000 Partial deduction
≥ $10,000 No deduction

2020 — You are covered by a retirement plan at work

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)*
< $10,000 Partial deduction
≥ $10,000 No deduction

2020 — You are NOT covered by a retirement plan at work

Filing Status Modified adjusted gross income (MAGI) Deduction Limit
Single, head of household, or qualifying widow(er) any amount A full deduction up to the amount of your contribution limit
Married filing jointly or separately with a spouse who is not covered by a plan at work any amount A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is covered by a plan at work $196,000 or less A full deduction up to the amount of your contribution limit
> $196,000 but < $206,000 A partial deduction (calculate)
≥ $206,000 or more No deduction
Married filing separately with a spouse who is covered by a plan at work
< $10,000 Partial deduction
≥ $10,000 No deduction

Contribution limits for small-business plans?

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