IRA Contribution Limits for 2025-2026

An IRA contribution is money added to a retirement account based on your taxable contribution. Annual limits apply to the combined contributions made to all of your Traditional and Roth IRAs.

For the 2026 tax year, the combined contribution limit is $7,500, or $8,600 if you are age 50 or older. Your contribution cannot exceed your taxable compensation for the year, and income limits may reduce the amount you can contribute to a Roth IRA.

To contribute to an IRA, you or your spouse must have taxable wages. This generally includes wages, salaries, tips, commissions, bonuses, and net earnings from self-employment. There is no maximum age for making IRA contributions, provided the compensation requirements are met.

Contributions to IRAs may be tax-deductible (except for Roth IRA). Deductions are determined by income, Cost of Living Adjustments (COLA), and if you are covered by another plan at work. Everyone’s situation is different. We highly recommend that you consult with a qualified tax or financial professional for guidance.

Yes. You can contribute to a Traditional orRoth IRA even if you participate in a plan through your employer or business; 401(k), SIMPLE,SEP, and so on. However, your contributions and deductibility may be limited if you (or your spouse) are participating in a plan at work, making contributions to a Spousal IRA, and your income exceeds certain amounts. We recommend that you discuss retirement planning with a tax or financial professional.

Income limits may reduce or eliminate your eligibility to contribute directly to a Roth IRA. Traditional IRA contributions are not restricted by income, but the amount you can deduct may be limited if you or your spouse participates in a workplace retirement plan, such as a 401(k) or SIMPLE IRA.

Important: Contributions that exceed the amount allowed may be subject to a 6% excise tax for each year the excess remains in the account. Excess contributions should be corrected by the applicable deadline.

Contribution limits depend on the account type. For 2026, the combined contribution limit for Traditional and Roth IRAs is $7,500, or $8,600 if you are age 50 or older.

SEP IRA contributions are generally limited to 25% of eligible compensation, with a maximum contribution of $72,000 for 2026. A special calculation applies to self-employed individuals.

The standard SIMPLE IRA employee contribution limit is $17,000 for 2026. Participants age 50 or older may contribute an additional $4,000. Participants who turn 60, 61, 62, or 63 during the year may qualify for a higher catch-up contribution of $5,250 instead.

Important: IRA contributions that exceed the amount allowed may be subject to a 6% excise tax for each year the excess remains in the account.

There are two main types of IRAs: Traditional and Roth. In 2026, the combined contribution limit if you have both is $7,500 if you're under 50, and $8,600 if you're 50 or older.

If you're married filing jointly, your spouse can contribute to an IRA, even if they don't have earned income themselves. However, your level of earned income may affect the amount you can contribute.