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IRA contribution limits
Learn about income and contribution limits for contributing to traditional and Roth IRAs.
2020 and 2021 traditional & Roth IRA contribution limits
Total annual contributions to your traditional and Roth IRAs combined cannot exceed:
- 2020: $6,000, 2021: $6,000 (under age 50)
- 2020: $7,000, 2021: $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
2020 & 2021 Roth IRA income requirements
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 |
2021
| Filing Status | Modified adjusted gross income (MAGI) | Contribution Limit |
| Single individuals | < $125,000 | $6,000 |
| ≥ $125,000 but < $140,000 | Partial contribution (calculate) | |
| ≥ $140,000 | Not eligible | |
| Married (filing joint returns) | < $198,000 | $6,000 |
| ≥ $198,000 but < $208,000 | Partial contribution (calculate) | |
| ≥ $208,000 | 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
2020 & 2021 Traditional IRA deduction limits
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)* | Not eligible | Full deduction up to the amount of your contribution limit |
| < $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 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 | 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 |
2021 — You are covered by a retirement plan at work
| Filing Status | Modified adjusted gross income (MAGI) | Deduction Limit |
| Single individuals | ≤ $66,000 | Full deduction up to the amount of your contribution limit |
| > $66,000 but < $76,000 | Partial deduction (calculate) | |
| ≥ $76,000 | No deduction | |
| Married (filing joint returns) | ≤ $105,000 | Full deduction up to the amount of your contribution limit |
| > $105,000 but < $125,000 | Partial deduction (calculate) | |
| ≥ $125,000 | No deduction | |
| Married (filing separately)* | ||
| < $10,000 | Partial deduction | |
| ≥ $10,000 | No deduction |
2021 — 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 | $198,000 or less | A full deduction up to the amount of your contribution limit |
| > $198,000 but < $208,000 | A partial deduction (calculate) | |
| ≥ $208,000 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.
Next steps
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