Every year, the IRS announces whether or not they are changing the contribution limits and income thresholds for Individual Retirement Accounts (IRAs). The IRA contribution and income limits for 2019 have increased.
We've created the several tables below to help you determine your IRA contribution and deduction limitations for individual (Traditional and Roth IRAs) and small business/self-employed (SIMPLE and SEP IRAs) for 2019.
Individual Retirement Accounts
| Individual Contribution | Individual Catch-up Contribution 1 | ||
|---|---|---|---|
| 2018 | 2019 | 2018 & 2019 | |
| Traditional IRA | Up to $5,500 | Up to $6,000 | Up to $1,000 |
| Roth IRA | Up to $5,500 | Up to $6,000 | Up to $1,000 |
| Traditional IRA Deductibility Modified Adjusted Gross Income(MAGI)Thresholds | Tax Year | Full Deduction | Partial Deduction | No Deduction |
|---|---|---|---|---|
| Single Individuals | 2018 |  $63,000 |
$63,000-$73,000 |  $73,000 |
| 2019 | $64,000 |
$64,000-$74,000 | $74,000 |
|
| Married Active Participant, Filing a Joint Tax Return | 2018 | $101,000 |
$101,000-$121,000 | $121,000 |
| 2019 | $103,000 |
$103,000-$123,000 | $123,000 |
|
| Married Active Participant, Filing Separate Tax Returns | 2018 | N/A | $0-$10,000 | $10,000 |
| 2019 | N/A | $0-$10,000 | $10,000 |
|
| Spouse of an Active Participant | 2018 | $189,000 |
$189,000-$199,000 | $199,000 |
| 2019 | $193,000 |
$193,000-$203,000 | $203,000 |
| ROTH IRA Eligibility MAGI Thresholds | Tax Year | Full Contribution | Partial Contribution | No Contribution |
|---|---|---|---|---|
| Single Individuals | 2018 | $120,000 |
$120,000-$135,000 | $135,000 |
| 2019 | $122,000 |
$122,000-$137,000 | $137,000 |
|
| Married, Filing a Joint Tax Return | 2018 | $189,000 |
$189,000-$199,000 | $199,000 |
| 2019 | $193,000 |
$193,000-$203,000 | $203,000 |
|
| Married, Filing Separate Tax Returns | 2018 | N/A | $0-$10,000 | $10,000 |
| 2019 | N/A | $0-$10,000 | $10,000 |
Employer Sponsored Retirement Accounts3, 4
| Participant Contribution Limit | Participant Catch-up Contribution1, 2 | Total maximum allocation to participant's account (employer & participant contributions5) | |||
| 2018 | 2019 | 2018 & 2019 | 2018 | 2019 | |
| SEP IRA | N/A | N/A | N/A | 25% of participant's compensation or $55,000, whichever is less | 25% of participant's compensation or $56,000, whichever is less |
| SIMPLE IRA | $12,500 | 13,000 | $3,000 | $25,000 ($12,500 participant + $12,500 employer match; employer match limited to 3% compensation) | $26,000 ($13,000 participant + $13,000 employer match; employer match limited to 3% compensation |
- Catch-up contributions are allowed for individuals age 50 or older.
- Catch-up contributions cannot exceed the lesser of the catch-up contribution limit listed, or the excess of your compensation over the elective deferrals that are not catch-up contributions.
- The information in this chart does not apply to self-employed individuals.
- Additional or smaller limitations may exist in plan documents.
- Maximums shown here may not include catch-up contributions. For participants in more than one retirement plan, the limits must be aggregated. You may wish to discuss with your tax advisor.
