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For 2015, 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs cannot be more than:

  • $5,500 ($6,500 if you’re age 50 or older), or
  • your taxable compensation for the year, if your compensation was less than this dollar limit.

The IRA contribution limit does not apply to:

  • Rollover contributions
  • Qualified reservist repayments

 

Visit the IRS website for more information including:

  • Claiming a tax deduction for you IRA contribution
  • Roth IRA contribution limitations based on filing status and income
  • IRA contributions after age 70 ½
  • Spousal IRAs