Roth IRA contribution limits and eligibility are based on your modified adjusted gross income (MAGI), depending on tax-filing status. Partial contributions are allowed for certain income ranges. Traditional IRA contributions are not limited by annual income. Find out which IRA may be right for you and how much you can contribute.
Calculate your IRA contribution limit Contribution limits for small-business plans? See annual limits for SEP and SIMPLE IRAs, 401(k)s, and investment-only plans.Roth IRA income requirements
2022
Filing Status
Modified adjusted gross income (MAGI)
Contribution Limit
Single individuals
< $129,000
$6,000
≥ $129,000 but < $144,000
Partial contribution (calculate)
≥ $144,000
Not eligible
Married (filing joint returns)
< $204,000
$6,000
≥ $204,000 but < $214,000
Partial contribution (calculate)
≥ $214,000
Not eligible
Married (filing separately)*
Not eligible
$6,000
< $10,000
Partial contribution (calculate)
≥ $10,000
Not eligible
If you are covered by a
retirement plan at work, you can make a full or partially deductible contribution to a Traditional IRA, based on your modified adjusted gross income (MAGI). The Secure Act, signed into law on December 20, 2019, removed the age limit in which an individual can contribute to an IRA. As long as you are still working, there is no age limit to be able to contribute to a Traditional IRA. Find out which IRA may be right for you and how much you can contribute.
Calculate your IRA contribution limit Contribution limits for small-business plans? See annual limits for SEP and SIMPLE IRAs, 401(k)s, and investment-only plans.Traditional IRA deduction limits
2022 — You are covered by a retirement plan at work
Filing Status
Modified adjusted gross income (MAGI)
Deduction Limit
Single individuals
≤ $68,000
Full deduction up to the amount of your contribution limit
> $68,000 but < $78,000
Partial deduction (calculate)
≥ $78,000
No deduction
Married (filing joint returns)
≤ $109,000
Full deduction up to the amount of your contribution limit
> $109,000 but < $129,000
Partial deduction (calculate)
≥ $129,000
No deduction
Married (filing separately)*
Not eligible
Full deduction up to the amount of your contribution limit
< $10,000
Partial deduction
≥ $10,000
No deduction
2022 — You are NOT covered by a retirement plan at work
Filing Status
Modified adjusted gross income (MAGI)
Deduction Limit
Single, head of household, or qualifying widow(er)
any amount
A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is not covered by a plan at work
any amount
A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is covered by a plan at work
$204,000 or less
Full deduction up to the amount of your contribution limit
> $204,000 but < $214,000
A partial deduction (calculate)
≥ $214,000 or more
No deduction
Married filing separately with a spouse who is covered by a plan at work
< $10,000
Partial deduction
≥ $10,000
No deduction
Planning for retirement
Roth IRA income limits: Your compensation counts
There are no income limits for a traditional IRA, but how much you earn has a direct bearing on how much you can contribute to a Roth IRA.
Is your income OK for a Roth IRA?
Whether or not you can make the maximum Roth IRA contribution (for 2022 $6,000 annually, or $7,000 if you're age 50 or older) depends on your tax filing status and your modified adjusted gross income (MAGI).
Your contribution can be reduced or "phased out" as your MAGI approaches the upper limits of the applicable phase-out ranges listed below.
Roth IRA phase-out ranges
Filing status | 2021 income range | 2022 income range |
Single | $125,000–$140,000 | $129,000–$144,000 |
Married, filing jointly | $198,000–$208,000 | $204,000–$214,000 |
Married, filing separately* | $0–$10,000 | $0–$10,000 |
Filing status
Single
2021 income range
$125,000–$140,000
2022 income range
$129,000–$144,000
Filing status
Married, filing jointly
2021 income range
$196,000–$208,000
2022 income range
$204,000–$214,000
Filing status
Married, filing separately*
2021 income range
$0–$10,000
2022 income range
$0–$10,000
If your income qualifies
Your next step is to determine how much you can contribute, based on your level of income.
Visit irs.gov for phase-out details on how to calculate your contribution limit:
Visit irs.gov for phase-out details on how to calculate your contribution limit:
If your income doesn't qualify
If you still want to open a Roth IRA, a "backdoor" path could be your solution.
We're here to help
Have questions? Contact us.
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*If you and your spouse didn't live together during the taxable year, your filing status will be viewed as "single" for Roth IRA contribution purposes.
You may wish to consult a tax advisor about your situation.
When taking withdrawals from an IRA before age 59½, you may have to pay ordinary income tax plus a 10% federal penalty tax.