2020-2021 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 $139,000 for the tax year 2020 and under $140,000 for the tax year 2021 to contribute to a Roth IRA, and if you're married and file jointly, your MAGI must be under $206,000 for the tax year 2020 and 208,000 for the tax year 2021. 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 2021)
Roth IRA contribution limits 2021
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 $125,000 | under $198,000 | $0 | $6,000 | $7,000 |
$126,500 | $199,000 | $1,000 | $5,400 | $6,300 |
$128,000 | $200,000 | $2,000 | $4,800 | $5,600 |
$129,500 | $201,000 | $3,000 | $4,200 | $4,900 |
$131,000 | $202,000 | $4,000 | $3,600 | $4,200 |
$132,500 | $203,000 | $5,000 | $3,000 | $3,500 |
$134,000 | $204,000 | $6,000 | $2,400 | $2,800 |
$135,500 | $205,000 | $7,000 | $1,800 | $2,100 |
$137,000 | $206,000 | $8,000 | $1,200 | $1,400 |
$138,500 | $207,000 | $9,000 | $600 | $700 |
$140,000 & over | $208,000 & 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 2020 and no more than $6,000 ($7,000 for those age 50 and over) for tax year 2021.
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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 |
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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