2026 IRA Contribution Limits

If you and/or your spouse have taxable compensation—generally wages or net self-employment income—you may be eligible to contribute to an Individual Retirement Account (IRA). For 2026, the combined annual contribution limit for Traditional and Roth IRAs is $7,500 if you are under age 50, or $8,600 if you are age 50 or older by the end of the tax year. Traditional IRA contributions are allowed at any age as long as compensation requirements are met. However, the deductibility of Traditional IRA contributions may be limited if you or your spouse are covered by an employer-provided retirement plan and your income exceeds certain levels; Roth IRA eligibility may also be limited based on filing status and income. Contributions for 2026 generally must be made by the original, unextended due date of your 2026 federal income tax return—typically April 15, 2027. Excess contributions are generally subject to a 6% excise tax for each year the excess remains in the IRA unless the excess contribution and related earnings are timely withdrawn by the tax return due date, including extensions.