2019-2020 Roth IRA Contribution Limits
Open a Roth IRA and take advantage of after-tax benefits as you save for retirement.
Roth IRA contributions are made on an after-tax basis.
Roth IRA contributions are made on an after-tax basis. However, keep in mind that your eligibility to contribute to a Roth IRA is based on your income level. If you file taxes as a single person, your Modified Adjusted Gross Income (MAGI) must be under $137, 000 for the tax year 2019 and under $139,000 for the tax year 2020 to contribute to a Roth IRA, and if you're married and file jointly, your MAGI must be under $203,000 for the tax year 2019 and 206,000 for the tax year 2020. The maximum total annual contribution for all your IRAs combined is:
- $6,000 if you're under age 50
- $7,000 if you're age 50 or older
Roth IRA Contribution Limits (Tax year 2020)
Roth IRA Contribution Limits (Tax year 2020)
| Single Filers (MAGI) | Married Filing Jointly (MAGI) | Married Filing Separately (MAGI) | Maximum Contribution for individuals under age 50 | Maximum Contribution for individuals age 50 and older |
|---|---|---|---|---|
| under $124,000 | under $196,000 | $0 | $6,000 | $7,000 |
| $125,500 | $197,000 | $1,000 | $5,400 | $6,300 |
| $127,000 | $198,000 | $2,000 | $4,800 | $5,600 |
| $128,500 | $199,000 | $3,000 | $4,200 | $4,900 |
| $130,000 | $200,000 | $4,000 | $3,600 | $4,200 |
| $131,500 | $201,000 | $5,000 | $3,000 | $3,500 |
| $133,000 | $202,000 | $6,000 | $2,400 | $2,800 |
| $134,500 | $203,000 | $7,000 | $1,800 | $2,100 |
| $136,000 | $204,000 | $8,000 | $1,200 | $1,400 |
| $137,500 | $205,000 | $9,000 | $600 | $700 |
| $139,000 & over | $206,000 & over | $10,000 & over | $0 | $0 |
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Roth IRA Contribution Limits (Tax year 2019)
Roth IRA contribution limits 2019
| Single Filers (MAGI) | Married Filing Jointly (MAGI) | Married Filing Separately (MAGI) | Maximum Contribution for individuals under age 50 | Maximum Contribution for individuals age 50 and older |
|---|---|---|---|---|
| under $122,000 | under $193,000 | $0 | $6,000 | $7,000 |
| $123,500 | $194,000 | $1,000 | $5,400 | $6,300 |
| $125,000 | $195,000 | $2,000 | $4,800 | $5,600 |
| $126,500 | $196,000 | $3,000 | $4,200 | $4,900 |
| $128,000 | $197,000 | $4,000 | $3,600 | $4,200 |
| $129,500 | $198,000 | $5,000 | $3,000 | $3,500 |
| $131,000 | $199,000 | $6,000 | $2,400 | $2,800 |
| $132,500 | $200,000 | $7,000 | $1,800 | $2,100 |
| $134,000 | $201,000 | $8,000 | $1,200 | $1,400 |
| $135,500 | $202,000 | $9,000 | $600 | $700 |
| $137,000 & over | $203,000 & over | $10,000 & over | $0 | $0 |
1. You may contribute simultaneously to a Traditional IRA and a Roth IRA (subject to eligibility) as long as the total contributed to all (Traditional and/or Roth) IRAs totals no more than $6,000 ($7,000 for those age 50 and over) for tax year 2019 and no more than $6,000 ($7,000 for those age 50 and over) for tax year 2020.
Common questions
- How does my Modified Adjusted Gross Income (MAGI) affect my contribution limits?
- Can I contribute to an IRA for a spouse?
- Can a minor contribute to an IRA?
- What is the deadline to make a contribution?
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