IRA Contribution Calculator 2026
Determine your IRA contribution limits, Roth eligibility, and Traditional IRA tax deduction based on your income, age, and filing status. Updated for 2026 IRS rules.
How IRA Contribution Limits Work in 2026
An Individual Retirement Account (IRA) is a tax-advantaged savings vehicle that helps Americans build retirement wealth. For 2026, the IRS allows a maximum contribution of $7,000 per person, or $8,000 if you are age 50 or older (the extra $1,000 is a catch-up contribution). These limits apply to the combined total across all your Traditional and Roth IRA accounts — you cannot contribute $7,000 to each.
Your actual contribution limit may be lower than the IRS maximum depending on your earned income. If your taxable compensation is less than $7,000, your contribution limit equals your earned income. For married couples filing jointly, even a non-working spouse can contribute to an IRA based on the working spouse's income, known as a spousal IRA.
Roth IRA Income Phase-Out Rules
Roth IRA contributions are subject to income limits that can reduce or eliminate your ability to contribute. For 2026, single filers with modified adjusted gross income (MAGI) between $150,000 and $165,000 receive a reduced contribution limit. Above $165,000, direct Roth contributions are not allowed. Married couples filing jointly phase out between $236,000 and $246,000. Those filing separately phase out between $0 and $10,000. When your income falls within the phase-out range, the IRS formula proportionally reduces your maximum Roth contribution.
If your income exceeds the Roth limit, you may still be able to use a backdoor Roth strategy — contributing to a Traditional IRA (non-deductible) and then converting to Roth. Consult a tax professional before attempting this, as the pro-rata rule may create unexpected tax consequences if you hold other Traditional IRA balances.
Traditional IRA Tax Deduction Eligibility
Anyone with earned income can contribute to a Traditional IRA regardless of income, but the tax deduction depends on whether you or your spouse participates in a workplace retirement plan. If you have a workplace plan (401k, 403b, etc.), the deduction phases out for single filers between $77,000 and $87,000 MAGI, and for married filing jointly between $123,000 and $143,000. If only your spouse has a workplace plan, the phase-out range for your deduction is $230,000 to $240,000.
When neither spouse has a workplace plan, the full Traditional IRA deduction is available at any income level. Even if your deduction is reduced or eliminated, you can still make non-deductible Traditional IRA contributions up to the annual limit. Last updated: April 2026, based on IRS Publication 590-A for tax year 2026.
Roth vs Traditional IRA: Which Is Better?
The choice between Roth and Traditional IRA depends primarily on your current versus expected future tax rate. A Roth IRA uses after-tax dollars with tax-free growth and withdrawals in retirement — ideal if you expect higher taxes later. A Traditional IRA offers an upfront tax deduction with taxes due on withdrawals — better if you are in a high bracket now and expect lower income in retirement. Many financial advisors recommend contributing to both types across your career to create tax diversification in retirement.