
Annual Tax Updates
IRA Contribution Limits
Note: If your Modified adjusted Gross Income (AGI) is above a certain amount, your contribution limit may be reduced. For more information refer to Publication 509 (link at bottom of page) and see "How much can be contributed?" under Roth IRA info.
Can't find what you're looking for?
Give us a call
603.225.9400


2020 & 2021
If you file a joint return, you and your spouse can each make IRA contributions even if only one of you has taxable compensation. The amount of your combined contributions can't be more than the taxable compensation reported on your joint return. It doesn't matter which spouse earned the compensation.
$6,000 ($7,000 if you are age 50 or older)
Traditional IRA
Spousal IRA Limit
Roth IRA
$6,000 of your taxable compensation for the year
If you are age 50 or older in 2021 and contributions are made only to Roth IRAs, your contribution limit will generally be the lesser of:
$7,000 or your taxable compensation for the year