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Contribution Limits for 2018

Traditional and Roth IRA Contribution Limits for 2018

All checks need to be made payable to Mainstar Trust.

 

Traditional/Roth IRA Contribution Limits

  • 2018 - $5,500.00

Catch Up Contributions For Those Age 50 or Older

  • 2018 - $6,500.00

SEP Contributions Cannot Exceed the Lesser of

  • 25% of Compensation or
  • 2017 - $54,000.00
  • 2018 - $55,000.00

 

The maximum amount that can be contributed to a SEP plan is 25% of an employee’s compensation, which is capped at a maximum as indicated above.

SEP contributions are reported to the IRS in the year of receipt. The account holder reports the year of designation for the SEP contribution on their tax return.

This information is for educational purposes only.  Please consult your tax advisor and IRS Publication 590 for more IRA information.

 

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