| Single Filers (MAGI) | Married Filing Jointly (MAGI) | Married Filing Separately (MAGI) | Maximum Contribution for individuals under age 50 |
|---|---|---|---|
| under $125,000 | under $198,000 | $0 | $6,000 |
| $126,500 | $199,000 | $1,000 | $5,400 |
| $128,000 | $200,000 | $2,000 | $4,800 |
| $129,500 | $201,000 | $3,000 | $4,200 |
| $131,000 | $202,000 | $4,000 | $3,600 |
| $132,500 | $203,000 | $5,000 | $3,000 |
| $134,000 | $204,000 | $6,000 | $2,400 |
| $135,500 | $205,000 | $7,000 | $1,800 |
| $137,000 | $206,000 | $8,000 | $1,200 |
| $138,500 | $207,000 | $9,000 | $600 |
| $140,000 & over | $208,000 & over | $10,000 & over | $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.