Roth IRA Contribution Limits (Tax Year 2025) Single Filers (MAGI) Married Filing Jointly (MAGI)Married Filing Separately (MAGI)Maximum Contribution for individuals under age 50Maximum Contribution for individuals age 50 and older under $150,00 ...
Those married filing jointly must make less than $236,000. Above these limits, the contribution limit is decreased until it is phased out completely. While a direct contribution might not be possible, there are still ways to contribute to your Roth IRA as a high earner. 2025 Roth IRA ...
Married (filing separately)1 < $10,000 Partial contribution ≥ $10,000 Not eligible Source: "401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000," Internal Revenue Service, November 1, 2024. Traditional IRA contribution limits for 2024 and 2025 Unlike Roth IRAs, you ca...
The Roth IRA also has income rules for contributions. For 2024, your ability to contribute begins phasing out at $146,000 for single filers and $230,000 for those married filing jointly. For 2025, that phase out starts at $150,000 for single filers and $236,000 for joint filers. The ...
2025 Roth IRA Income Limits & Phaseouts The 2025 Roth IRA income phaseout limits are as follows: Married filing jointly or qualifying widow(er):If your modified gross adjusted income (MAGI) is $236,000 (up from $230,000) or less, you can contribute up to the $7,000 max. If at leas...
Formarried couplesfiling jointly, the income phase-out range is increased to between $236,000 and $246,000, up from between $230,000 and $240,000. 2025 IRA Phase-Out Limits Chart Roth IRA Income Limits The IRS has specific income restrictions that determine who can contribute to Roth IRAs...
If you make less than $140,000 as a single person (or $208,000 for married couples filing jointly), you fall within the Roth IRA income limits. In that case, there is no reason to use the “backdoor” because you can make a regular contribution to a Roth IRA. If your income is ...
2023/2024 Roth IRA contribution limits based on income If your tax filing status is…and your modified AGI is…then you can take… married filing jointly or qualifying widow(er)2023: less than $218,000 2024: less than $230,000up to the limit ...
2025 and 2024 Traditional IRA Deduction Limits If your filing status is…And your 2025 Modified AGI is...And your 2024 Modified AGI is...Then you can take… Single, head of household, qualifying widow(er), married filing jointly or separatelyand neither spouse is covered by a plan at work...
For 2025, the range is $150,000 to $165,000 for a single filer and $236,000 to $246,000 for a married couple filing jointly.2 Strategies to Manage Your IRA Whichever type of IRA you choose (and you can have both), you can boost your nest egg by following some simple strategies...