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IRA Contribution Limits and Deadlines

Learn about the deadlines, income limits, and contribution limits for contributing to Traditional and Roth IRAs each year.

2014 Traditional & Roth IRA contribution limits

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

  • $5,500 (under age 50)
  • $6,500 (age 50 or older)

Traditional IRA contributions are not limited by annual income.

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.

2014 Roth IRA income requirements

Filing Status Modified adjusted gross income (MAGI)* Contribution Limit
Single individuals < $114,000 $5,500
≥ $114,000 but < $129,000 Partial contribution (calculate)
≥ $129,000 Not eligible
Married (filing joint returns) < $181,000 $5,500
≥ $181,000 but < $191,000 Partial contribution (calculate)
≥ $191,000 Not eligible
Married (filing separately)** Not eligible up to $5,500
< $10,000 Partial contribution (calculate)
≥ $10,000 Not eligible

2015 Roth IRA income requirements

Filing Status Modified adjusted gross income (MAGI)* Contribution Limit
Single individuals < $116,000 $5,500
≥ $116,000 but < $131,000 Partial contribution (calculate)
≥ $131,000 Not eligible
Married (filing joint returns) < $183,000 $5,500
≥ $183,000 but < $193,000 Partial contribution (calculate)
≥ $193,000 Not eligible
Married (filing separately)** Not eligible $5,500
< $10,000 Partial contribution (calculate)
≥ $10,000 Not eligible

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).

2014 Traditional IRA deduction limits

Filing Status Modified adjusted gross income (MAGI)* Deduction Limit
Single individuals ≤ $60,000 Full deduction up to the amount of your contribution limit
> $60,000 but < $70,000 Partial deduction (calculate)
≥ $70,000 No deduction
Married (filing joint returns) ≤ $96,000 Full deduction up to the amount of your contribution limit
> $96,000 but < $116,000 Partial deduction (calculate)
≥ $116,000 No deduction
Married (filing separately)** Not eligible Full deduction up to the amount of your contribution limit
< $10,000 Partial deduction (calculate)
≥ $10,000 No deduction
Non-active participant spouse (i.e., those with spouses who earn no income) ≤ $181,000 Full deduction up to the amount of your contribution limit
> $181,000 but < $191,000 Partial deduction (calculate)
≥ $191,000 No deduction

2015 Traditional IRA deduction limits

Filing Status Modified adjusted gross income (MAGI)* Deduction Limit
Single individuals ≤ $61,000 Full deduction up to the amount of your contribution limit
> $61,000 but < $71,000 Partial deduction (calculate)
≥ $71,000 No deduction
Married (filing joint returns) ≤ $98,000 Full deduction up to the amount of your contribution limit
> $98,000 but < $118,000 Partial deduction (calculate)
≥ $118,000 No deduction
Married (filing separately)** Not eligible Full deduction up to the amount of your contribution limit
< $10,000 Partial deduction (calculate)
≥ $10,000 No deduction
Non-active participant spouse (i.e., those with spouses who earn no income) ≤ $183,000 Full deduction up to the amount of your contribution limit
> $183,000 but < $193,000 Partial deduction (calculate)
≥ $193,000 No deduction

Contribution limits for small-business plans

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

Source: Internal Revenue Service
* Since the 2010 tax year, there is no income limit for taxpayers who wish to convert a Traditional IRA to a Roth IRA.
** Married (filing separately) can use the limits for single individuals if they have not lived with their spouse in the past year.
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