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

Adjustments to Income

IRA Contributions

Excess Contributions

Excess contributions are amounts contributed to a traditional IRA that exceed either of the following, whichever amount is smaller:

  • A taxpayer's taxable compensation for the year, or
  • General limit amount

Contributions made in the year a taxpayer reaches 70½ and any later year are also considered excess contributions.

Piggy bank overflowing with pennies.