Is Retirement Achievable? – and other “IRAs” . . .2026
While the question above isn’t what the acronym “IRA” stands for, it may represent an underlying uncertainty that comes to mind when you hear the term.
Individual Retirement Accounts (IRAs) are tremendous vehicles for preparing for your long-term future. In fact, they’re so great that the IRS has placed limits on the extent to which they can be used. These limits are often unfamiliar and can change year to year, potentially adding another question mark to your retirement preparation.
We like bringing clarity to the retirement picture, so we’re glad to provide this quick reference guide to contribution limits and other important IRA information.
Basic Retirement Account Contribution Limits
The amount you can contribute to your retirement account depends on the type of your retirement account, your age, and your taxable compensation. Below are the maximum annual contribution amounts for various IRAs and other retirement accounts.
Type of Account | 2025 | 2026 |
Traditional/Roth IRA | $7,000 ($8,000 if you’re age 50 or older) or, if less, your taxable compensation for the year 2025 | $7,500 ($8,600 if you’re age 50 or older) or, if less, your taxable compensation for the year 2026 |
Simple IRA | $16,500 ($20,000 if you’re age 50 or older; $21,750 if ages 60-63) or, if less, your taxable compensation for the year 2025 | $17,000 ($21,000 if you’re age 50 or older; $22,250 if ages 60-63) or, if less, your taxable compensation for the year 2026 |
SEP IRA | $70,000 or, if less, 25% of self-employed taxable compensation for the year 2025 | $72,000 or, if less, 25% of self-employed taxable compensation for the year 2026 |
401(k)/403(b)/TSP/most 457 plans | $23,500 ($31,000 if you’re age 50 or older; $34,750 if ages 60-63) or, if less, your taxable compensation for the year 2025 | $24,500 ($32,500 if you’re age 50 or older; $35,750 if ages 60-63) or, if less, your taxable compensation for the year 2026 |
Income Limits for Roth IRA Contributions
Unlike Traditional IRA contributions, Roth IRA contributions are limited if your income exceeds a certain amount. Additionally, Roth IRA contributions are not deductible on your tax return. Depending on your income, you may be able to make a full contribution, a partial contribution, or no contribution. Below are the modified adjusted gross income (AGI) limits.
Tax Filing Status | 2025 | 2026 |
Married Filing Jointly or Qualifying Widow(er) | 1. < $236,000, you can make a full contribution 2. >= $236,000 but < $246,000, you can make a partial contribution 1. >= $246,000, you cannot make a contribution | 3. < $242,000, you can make a full contribution 4. >= $242,000 but < $252,000, you can make a partial contribution 5. >= $252,000, you cannot make a contribution |
Single or Head of Household | 1. < $150,000, you can make a full contribution 2. >= $150,000 but < $165,000, you can make a partial contribution 1. >= $165,000, you cannot make a contribution | 3. < $153,000, you can make a full contribution 4. >= $153,000 but < $168,000, you can make a partial contribution 5. >= $168,000, you cannot make a contribution |
Tax Deductibility and Phaseout of Traditional IRA Contributions
You may be able to deduct all or part of your Traditional IRA contributions on your tax return depending on your income and whether you (and your spouse if married) are covered by a retirement plan at your work.
Below are the phaseout ranges for Married Filing Jointly and Single tax filing statuses if either you (or your spouse if married), are covered by a retirement plan at work.*
AGI Phaseout begins - partial deduction if modified AGI exceeds:
Tax Filing Status | 2025 | 2026 |
Married Filing Jointly | $126,000 ($236,000 if you are not covered by a retirement plan at work but your spouse is) | $129,000 ($242,000 if you are not covered by a retirement plan at work but your spouse is) |
Single | $79,000 | $81,000 |
AGI Fully Phased Out - no deduction if modified AGI exceeds:
Tax Filing Status | 2025 | 2026 |
Married Filing Jointly | $146,000 ($246,000 if you are not covered by a retirement plan at work but your spouse is) | $149,000 ($252,000 if you are not covered by a retirement plan at work but your spouse is) |
Single | $89,000 | $91,000 |
*See IRS Publication 590-A for phaseout ranges for Married Filing Separately, Head of Household, or Qualifying Widow(er) filing statuses.
If neither you nor your spouse (if married) are covered by a retirement plan at your work, there is no AGI limit and you are able to deduct all of your Traditional IRA contribution.