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
