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Contribution Limits 2019
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Traditional/Roth IRA Contribution Limits
| Traditional & Roth IRA | 2019 | 2020 |
| Maximum amount you may contribute to IRAs* | $6,000 | $6,000 |
| Catch-up contribution if you're age 50 or older | $1,000 | $1,000 |
Income Limits for Deducting Traditional IRA Contributions
- When you participate in a retirement plan at work
| Tax-Filing Status | Income Range for 2019 | Income Range for 2020 |
| Single or Head of Household | $64,000-$74,000 | $65,000-$75,000 |
| Married, Filing Jointly | $103,000-$123,000 | $104,000-$124,000 |
| Married, Filing Separately | $0-$10,000 | $0-$10,000 |
- When you don't participate in a retirement plan, but your spouse does
| Tax-Filing Status | Income Range for 2019 | Income Range for 2020 |
| Married, Filing Jointly | $193,000-$203,000 | $196,000-$206,000 |
| Married, Filing Separately | $0-$10,000 | $0-$10,000 |
Income Limits for Eligibility to Contribute to a Roth IRA
| Tax-Filing Status | Income Range for 2019 | Income Range for 2020 |
| Single or Head of Household | $122,000-$137,000 | $124,000-$139,000 |
| Married, Filing Jointly | $193,000-$203,000 | $196,000-$206,000 |
| Married, Filing Separately | $0-$10,000 | $0-$10,000 |
SEP & SIMPLE IRA Plan Contribution Limits & other thresholds
| SEP IRA Plan | 2019 Plan Year | 2020 Plan Year |
| Minimum compensation you must earn to be eligible for an employer contribution | $600 | $600 |
| Maximum SEP contribution your employer may make to your traditional IRA | $56,000 | $57,000 |
| Maximum compensation that may be considered for calculating contributions | $280,000 | $285,000 |
| SIMPLE IRA Plan | 2019 Tax Year | 2020 Tax Year |
| Maximum amount you may put into a SIMPLE IRA as a salary deferral | $13,000 | $13,500 |
| Catch-up contribution if you're age 50 or older | $3,000 | $3,000 |
This information is for educational purposes only. Please consult your tax advisor and IRS Publication 590 for more IRA information.
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