| YEAR | CONTRIBUTION IF UNDER THE AGE OF 50 | CONTRIBUTION IF OVER THE AGE OF 50 | DEADLINE TO OPEN IRA | DEADLINE TO CONTRIBUTE TO IRA |
|---|---|---|---|---|
| 2020 | $6,000 | $7,000 | 4/15/2021 | 4/15/2021 |
| 2021 | $6,000 | $7,000 | 4/15/2022 | 4/15/2022 |
| There is no age limit on regular IRA contributions. | ||||
| If Your Filing Status Is… | And Your Modified AGI Is… | Then You Can Take… |
|---|---|---|
| Single or Head of Household | $65,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $65,000 but less than $75,000 | a partial deduction. | |
| $75,000 or more | no deduction. | |
| Married Filing Jointly or Qualifying Widow(er) | $104,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $104,000 but less than $124,000 | a partial deduction. | |
| $124,000 or more | no deduction. | |
| Married Filing Separately | less than $10,000 | a partial deduction. |
| $10,000 or more | no deduction. |
| If Your Filing Status Is… | And Your Modified AGI Is… | Then You Can Take… |
|---|---|---|
| Single, Head of Household, or Qualifying Widow(er) | any amount | a full deduction up to the amount of your contribution limit. |
| Married Filing Jointly or Separately with a spouse who is not covered by a plan at work | any amount | a full deduction up to the amount of your contribution limit. |
| Married filing jointly with a spouse who is covered by a plan at work | $196,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $196,000 but less than $206,000 | a partial deduction. | |
| $206,000 or more | no deduction. | |
| Married filing separately with a spouse who is covered by a plan at work | less than $10,000 | a partial deduction. |
| $10,000 or more | no deduction. |