IRAs and Other Retirement Plans
Modified Adjusted Gross Income (AGI) Limit (Advanced certification)
For 2018, the maximum IRA deduction will remain at $5,500 ($6,500 if age 50 or older). If a taxpayer is covered by a retirement plan at work, the deduction for contributions to a traditional IRA is reduced (phased out) if the modified AGI is:
For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple's income is between $189,000 and $199,000.
IRA Conversion to Roth IRA (Advanced certification)
A conversion of a traditional IRA to a Roth IRA, and a rollover from any other eligible retirement plan to a Roth IRA, made after December 31, 2017, cannot be recharacterized as having been made to a traditional IRA.