Internal Revenue Service United States Department of the Treasury
Level Basic Intermediate Advanced Military International

Adjustments to Income

IRA Contributions

General Contribution Limits

There is a limit on the amount taxpayers can contribute to traditional IRAs. The total contribution—that is, the combined contributions to all accounts, including Roth and traditional IRAs—cannot be more than the smaller of:

  • $5,000 ($6,000 if age 50 or older by the end of the tax year), or
  • A taxpayer's compensation includible as income for the year
More Information

Taxpayers who have more than one traditional IRA account must combine them and treat them as one when figuring the amount that can be contributed for the year. The general contribution limit increase for certain employer bankruptcies expired in 2010 and is no longer available. For more information, see Catch-up Contributions in Publication 590.

Photo of 35 year old labeled with dollar amount $5,000. Photo of 65 year old labeled with dollar amount $6,000.