2026 IRA Contribution Limits

Whether you are contributing to a traditional IRA, a Roth IRA, or both, the 2026 IRA contribution limit is $7,500, or $8,600 if you are 50 or older (that is a $1,100 catch-up on top of the base limit). The limit is one number, but how much of it you can actually use depends on your earned income, your filing status, and whether you have a retirement plan at work.

Both IRA types carry tax benefits, in opposite directions. A traditional IRA gives you a deduction on what you contribute now, and the money is taxed when you withdraw it in retirement. A Roth IRA gives you no deduction now, and qualified withdrawals in retirement are tax-free. Which one fits depends mostly on whether you expect a higher or lower tax rate later.

Before you decide where this year’s savings go, look at the whole plan. IRA money is meant for retirement, and there are penalties for taking it out early, so do not contribute more than you can leave alone. It is also worth checking whether paying off debt first beats investing: skipping interest is a guaranteed return that a brokerage account cannot promise.

What counts as earned income

Every dollar you put in an IRA has to come from earned income: wages, salary, bonuses, commissions, tips, or net self-employment income. Disability retirement benefits also count as earned income until you reach minimum retirement age.

Income from alimony, child support, rental property, investments, and unemployment benefits does not count. If your earned income for the year is less than the contribution limit, your earned income becomes your limit. Earn $12,000 from a rental property and $4,000 from freelance work, and the most you can put in any IRA is $4,000, because only the freelance income is earned.

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Spousal IRAs

A spousal IRA lets a non-working spouse keep contributing. If you file jointly, the spouse with earned income can fund an IRA in the other spouse’s name, up to the full limit for each of you, as long as the working spouse’s earned income covers both contributions. For two people both under 50 in 2026, that means $15,000 of earned income to max out both accounts.

Income limits on IRA contributions and deductions

Your income can reduce or eliminate what you are allowed to do with an IRA, and it works differently for each type.

A traditional IRA has no income limit on contributions. It only limits your deduction, and only if you or your spouse are covered by a workplace retirement plan. For 2026, the traditional IRA deduction phases out between $81,000 and $91,000 of modified adjusted gross income for a single filer covered at work, and between $129,000 and $149,000 for a married couple filing jointly when the contributor is the one covered. If only your spouse is covered, your deduction phases out between $242,000 and $252,000. With no workplace plan on either side, the deduction is unlimited.

A Roth IRA limits the contribution itself. For 2026, your Roth contribution phases out between $153,000 and $168,000 of MAGI for single filers, and between $242,000 and $252,000 for married couples filing jointly.

Go over either the income limit or the overall contribution limit and the IRS charges 6% per year on the excess until you fix it, so track your total across every IRA during the year, not just at tax time.

Everyone’s retirement plan is different, and a strategy that works for a friend or neighbor may not work for you. Talk to a Certified Financial Planner at Retirable today for advice on your specific finances and ensure that you’re making the best decision for you and your family.

Frequently asked questions

What are the IRA contribution limits for 2026?

For 2026, you can contribute up to $7,500 across your traditional and Roth IRAs combined. If you are 50 or older by year-end, you can add a $1,100 catch-up contribution, for a total of $8,600. These limits apply to the sum of all your IRAs, not to each account separately.

Do the contribution limits apply to both Roth and Traditional IRAs?

Yes. The $7,500 limit ($8,600 at 50 or older) for 2026 is a single combined cap across every traditional and Roth IRA you own. You can split contributions between the two types in any proportion, as long as the total does not exceed the annual limit.

Can I contribute to an IRA if I have a workplace retirement plan?

Yes. Having a 401(k) or similar plan at work does not stop you from contributing to an IRA. It can limit your ability to deduct traditional IRA contributions: for 2026, that deduction phases out starting at $81,000 of income for a covered single filer and $129,000 for a covered joint filer. Roth IRA contributions have their own income limits, unrelated to whether you have a workplace plan.

What if I contribute more than the IRA limit?

An excess contribution is taxed 6% per year for every year it stays in the account. You avoid the penalty by withdrawing the excess plus any earnings on it before your tax filing deadline including extensions, or by applying the excess to the next tax year and reducing that year’s contribution accordingly.

Can I still contribute to an IRA if I'm over 70 ½ years old?

Yes. The 2019 SECURE Act removed the age limit on traditional IRA contributions, so you can contribute to a traditional or Roth IRA at any age as long as you have earned income. Roth IRAs never had an age limit.

How does the "saver's credit" affect my IRA contributions?

The saver’s credit is a tax credit for lower- and moderate-income savers who contribute to an IRA or a workplace plan, worth 50%, 20%, or 10% of up to $2,000 in contributions ($4,000 if married filing jointly), depending on income. For 2026, it is available up to $40,250 of adjusted gross income for single filers, $60,375 for heads of household, and $80,500 for married couples filing jointly. It is claimed on Form 8880 and is separate from any deduction you take.

What is the deadline for making 2026 IRA contributions?

You have until the federal tax filing deadline in April 2027 to make a 2026 IRA contribution. A filing extension does not extend the contribution deadline. Contributions made between January and April can be designated for either the prior tax year or the current one, so tell your IRA provider which year you mean.

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