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2016 IRA Contribution Cost-of-Living Adjustments

Individual Retirement Accounts (IRAs)

The maximum annual contribution for Traditional or Roth IRAs remains at $5,500. The maximum annual contribution for Traditional or Roth IRAs is $6,500 for individuals over age 50.

Year
Contribution Limit
Catch-up Contribution
2017
$5,500
$1,000
2016
$5,500
$1,000
Filing Status
Phase out begins if MAGI exceeds
Ineligible if MAGI exceeds
single, head of household, or married filing separately and you did not live with your spouse at any time during the year
118,000 (2017)
117,000 (2016)
133,000 (2017)
132,000 (2016)
married filing jointly or qualifying widow(er)

186,000 (2017)
184,000 (2016)
196,000 (2017)
194,000 (2016)
married filing separately and you lived with your spouse at any time during the year
$0
$10,000
Filing Status

Phase out begins if MAGI exceedsNondeductible if MAGI exceeds
single or head of household

62,000 (2017)
62,000 (2016)
72,000 (2017)
72,000 (2016)
married filing separately
$0
$10,000
Filing Status

Phase out begins if MAGI exceedsNondeductible if MAGI exceeds
single, head of household, or qualifying widow(er)

No phase out N / A
married filing jointly or separately with a spouse who is not covered by a plan at workNo phase out N / A
married filing jointly with a spouse who is covered by a plan at work
186,000 (2017)
184,000 (2016)
196,000 (2017)
194,000 (2016)
married filing separately with a spouse who is covered by a plan at work
$0
$10,000