IRA contributions and limits
- $112,000 if filing as a single taxpayer or head of household
- $178,000 if married filing jointly
- $69,000 for taxpayers filing as single or head of household
- $115,000 for married filing jointly
- you’re single, you can deduct an IRA contribution regardless of your income level.
- you’re married and your spouse is not covered by a plan at work, you can deduct regardless of your income level.
- you’re married filing jointly and your spouse is covered by a plan at work, you can deduct your full contribution if your combined income is less than $178,000, and part of your contribution if your income is between $178,000 and $188,000.