2019 contribution and deduction limits

Traditional IRA

Deadline to make a contribution for 2019 tax year is April 15, 2020; no extensions

If neither you nor your spouse is covered by an employer plan, such as a 401(k) or 403(b)

Tax filing status Modified Adjusted Gross Income (MAGI) Maximum contribution amount Amount you may deduct from taxes
< Age 50 Age 50+
Any filing status Any income level $6,000 $7,000  $6,000 ($7,000 for age 50+)

If you are covered by an employer plan, such as a 401(k) or 403(b)

Tax filing status Modified Adjusted Gross Income (MAGI) Maximum contribution amount Amount you may deduct from taxes
< Age 50 Age 50+
Single or head of household <$64,000 $6,000 $7,000  $6,000 ($7,000 for age 50+)
$64,001-$73,999 Partial deduction*
> $74,000 $0
Married filing jointly or qualifying widow(er) < $103,000 $6,000 $7,000 $6,000 ($7,000 for age 50+)
$103,001-$122,999 Partial deduction*
> $123,000 $0
Married filing separately < $9,999 $6,000 $7,000 Partial deduction*
> $10,000 $0

If your spouse is covered by an employer plan, such as a 401(k) or 403(b)

Tax filing status Modified Adjusted Gross Income (MAGI) Maximum contribution amount Amount you may deduct from taxes
< Age 50 Age 50+
Married filing jointly < $193,000 $6,000 $7,000 $6,000 ($7,000 for age 50+)
$193,001-$202,999 Partial deduction*
> $203,000 $0
Married filing separately < $9,999 $6,000 $7,000 Partial deduction*
> $10,000  $0

Next Steps

Make a contribution to an existing Traditional IRA.

*Use the IRA Selector tool to help determine this amount. This tool may also help you decide between a Traditional and Roth IRA.

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Roth IRA

Deadline to make a contribution for 2019 tax year is April 15, 2020; no extensions

Tax filing status Modified Adjusted Gross Income (MAGI) Maximum contribution amount
< Age 50 Age 50+
Single or head of household < $122,000 $6,000  $7,000
$122,001-$136,999 Partial amount*
> $137,000 $0
Married filing jointly or qualifying widow(er) < $193,000 $6,000 $7,000 
$193,001-$202,999 Partial amount*
> $203,000 $0
Married filing separately < $9,999 Partial amount*
> $10,000  $0

Next Steps

Make a contribution to an existing Roth IRA.

*Use the IRA Selector tool to help determine this amount. This tool may also help you decide between a Traditional and Roth IRA.

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Small Business Plans

SEP IRA

Maximum contribution limit Plan establishment deadline Contribution deadline
25% of compensation, up to $55,000 in 2018 ($56,000 in 2019) Business tax filing deadline, plus extensions Business tax filing deadline, plus extensions

Profit-Sharing or Money Purchase Plan

Maximum contribution limit Plan establishment deadline Contribution deadline
25% of compensation, up to $55,000 in 2018 ($56,000 in 2019) December 31 Business tax filing deadline, plus extensions

SIMPLE IRA

Age Maximum contribution limit Plan establishment deadline Contribution deadline
  Employee Employer   Employee Employer
< Age 50 $12,500 in 2018 ($13,000 in 2019) 3% of employee compensation,
up to $12,500 in 2018 ($13,000 in 2019)(matching)
October 1 January 30 Business tax filing deadline,
plus extensions
Age 50+ $15,500 in 2018 ($16,000 in 2019) 3% of employee compensation,
up to $15,500 in 2018 (16,000 in 2019)(matching)
Any age   2% of employee compensation,
up to $5,500 ($5,600 in 2019) (non-elective)

Individual and Roth Individual 401(k)

Age Maximum contribution limit Plan establishment deadline Contribution deadline
  Employee Employer   Employee Employer
< Age 50 $18,500 in 2018 ($19,000 in 2019) 25% of compensation,
up to $55,000 in 2018 ($56,000 in 2019)
December 31 January 15 Business tax filing deadline,
plus extensions
Age 50+ $24,000 in 2018 ($25,000 in 2019) 25% of compensation,
up to $61,000 in 2018 ($62,000 in 2019)

Next Steps

Make a contribution to an existing small business retirement account.

Not sure which retirement plan may be right for your business? Use the Small Business Selector tool.

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Coverdell ESA

Deadline to make a contribution for 2018 tax year is April 15, 2019; no extensions

Tax filing status Modified Adjusted Gross Income (MAGI) Maximum contribution amount
Single < $95,000 $2,000
$95,001–$109,999 Partial amount
> $110,000 $0
Married filing jointly < $190,000 $2,000
$190,001–$219,999 Partial amount
> $220,000 $0

Next Steps

Learn more about a Coverdell ESA.

Make a contribution to an existing Coverdell ESA.

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